China Overtakes America As The Richest Nation In The World Confirming Previous Site Claims

December 14. 2021

This is a follow up to the Judiciary Report articles "The Coronavirus Is Posing A Massive Threat To The American Economy" (March 28, 2020) and China Has Won The Trade War Against The United States Confirming My Previous Predictions (January 13. 2021) and China Set To Overtake The U.S. Economy As The World Number One Due The Coronavirus And How It Was Handled By The Government Confirming Previous Site Claims (December 28. 2020).

In the March 28. 2021 article "The Coronavirus Is Posing A Massive Threat To The American Economy" I stated "The virus poses the biggest threat to the American economy since the Great Depression, which changed the American way of life. If handled incorrectly, the coronavirus outbreak has the potential to strip away America's position as the top economy in the world and cause it to fall by the wayside. Yes, the outbreak is that serious of a crisis for America. Not only has the virus killed people, it's killing the economy as well."

Though people thought it could never happen, this month my predictions from nearly 2-YEARS ago were confirmed, as it was announced China has overtaken America as the richest nation in the world, "China has overtaken the United States as the world's richest country, a recent report by the research arm of consultants McKinsey & Co. revealed. The study examined the balance sheets of 10 countries representing over 60% of world income. It said that global wealth has tripled in the last two decades and China accounted for almost one-third of this global increase."

I'd also warned that Joe Biden would be a disaster for America and its economy, and over a year later this has proven true as well (Joe Biden Tax Plan Slammed And Debunked On '60 Minutes' Confirming Previous Site Claims).

Inflation has hit record highs in America and the pandemic went absolutely out of control under Biden (Joe Biden Slammed In The Press For Declaring Victory Over Coronavirus Too Soon Leading To More Cases And Deaths In A Fourth Wave Of The Virus (Video) and America Is Experiencing A Dire 10,100,000 Job Openings Due To Economic Mismanagement And 100,000 New Coronavirus Cases Per Day After President Joe Biden Told The Public To Take Off Their Masks).

Biden has no answers for America's problems and this is quite serious. I don't think some grasp the gravity of the situation and what it means for America's future. He has done an extraordinary amount of damage and worse is to come under Biden.

STORY SOURCE

China overtakes US as world's richest; experts sound caution

Published on Nov 16, 2021, 01:52 pm - China witnessed an increase in wealth from a mere $7 trillion in 2000 to $120 trillion in 2020. China has overtaken the United States as the world's richest country, a recent report by the research arm of consultants McKinsey & Co. revealed. The study examined the balance sheets of 10 countries representing over 60% of world income. It said that global wealth has tripled in the last two decades and China accounted for almost one-third of this global increase.

China's wealth has ballooned from a mere $7 trillion in 2000 to $120 trillion in 2020. Comparatively, the US could only double-up its wealth during the same period. However, this increase in net worth was not in sync with global Gross Domestic Product (GDP), the McKinsey report highlighted. The report cautioned that the "side-effects" of such a wealth boom could end in crisis.

Global net wealth rose to $514 trillion in 2020 from $156 trillion in 2000. "We are now wealthier than we have ever been," Jan Mischke, a partner at the McKinsey Global Institute in Zurich, told Bloomberg. Although China's wealth grew by over 17 times, the US's wealth rose to $90 trillion. America's shallower growth is attributed to a more muted rise in property prices.

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