China vs. U.S Millionaires

Who do you think created more millionaires in 2013 China or the U.S?  It seems the U.S is constantly being compared to China these days when it comes to many of the economic facets the two countries seemingly share.  This has never been truer when it comes to financial stability, manufacturing, business, and wealth creation.

There may be some similarities between the two countries in some areas, but not when it comes to millionaire creation (number of people who became millionaires) within each of the two countries. In this area, there is not contest.  The U.S crushed China in this category.  A report issued by Credit Suisse late last year shows that America is by far adding the most millionaires of any country in the world, and China is nowhere even close.

In the report, the United States ranked number 1 out of all countries in the world when it came to people becoming millionaires.  The US produced 94.4% of the world’s new millionaires last year while China produced only 5%.  The report shows that of the 1.8 million people around the world who because millionaires, 1.7 of the new million were from the United States.  China produced a mere 90,000 millionaires in the same time period.  This means the United States can now lay claim to 13.2 million millionaires. It also gives the U.S at least one area that it can firmly say it is ahead of China when it comes to business and personal wealth creation.

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