62% of New Millionaires come from Asia

[annoyingorange]

The Asia-Pacific region led by China is quickly catching up to the West in terms of wealth.

With the accelerating pace of innovation in mobile communications and fintech, the region
is expected to not only leapfrog the US & Europe by 2019, but also integrate millions
of unbanked people into the global economy.

I actually think it may happen sooner than that, what do you reckon?

[dominicg]

The Asia-Pacific region led by China is quickly catching up to the West in terms of wealth.

With the accelerating pace of innovation in mobile communications and fintech, the region
is expected to not only leapfrog the US & Europe by 2019, but also integrate millions
of unbanked people into the global economy.

I actually think it may happen sooner than that, what do you reckon?

No wonder, business in Asia is increasing rapidly along with the population. There are new ventures. They are now less dependent on Western countries.

[damiano]

2019 is a good timescale but like you I think it will be sooner by a year or 2, I don't personally like the fact that they are catching so fast and will soon leave us behind. It is booming over there and the enviroment is about to be tested with all these new millionaires and people who have lived with close to nothing now having enough to buy homes cars and use enormous amounts of power. Crazy times ahead.

[Amph]

if this is the case, china has no reason to hold bitcoin, their farms will dump everything, so with 60% of the network, more thank 2k are being dumped each day

also their citizens are all over the world, is this article taking into account this? chinese are not only in china anymore

[pereira4]

if this is the case, china has no reason to hold bitcoin, their farms will dump everything, so with 60% of the network, more thank are being dumped each day

also their citizens are all over the world, is this article taking into account this? chinese are not only in china anymore

Yeah, tons of chinese are buying real state from other countries, sometimes funded by their governments (they give them money and tell them, go there and buy all of that). They are taking over the world, no wonder they are leaders in BTC mining.
If they aren't dumb as a brick they'll not dump all of their BTC wealth tho.

[Possum577]

Likely sooner. Good growth can have accelerating growth rates.

Asian folks are definitely hiding/stashing their wealth in Western property, in some cases they don't ever live in the property!

But, is this a bad thing? If they earn their wealth in Asia and then come to Europe or the US to spend it, is it not a good source of wealth distribution? They're bringing wealth into the countries that want/need it!

[countryfree]

It's only normal since there are more people in China alone than in the EU and the US together. I've been following the car industry for many years, and it's been a while that Mercedes sells way more of its most expensive models in China than in Germany. The good thing being that many Chinese are investing abroad, though it's not so good for Londoners by example. Thousands of British people had to move to the suburbs because real estate prices have been rising fast due to Asian buyers.

[yayayo]

It's only normal since there are more people in China alone than in the EU and the US together. I've been following the car industry for many years, and it's been a while that Mercedes sells way more of its most expensive models in China than in Germany. The good thing being that many Chinese are investing abroad, though it's not so good for Londoners by example. Thousands of British people had to move to the suburbs because real estate prices have been rising fast due to Asian buyers.

This. In my opinion Asia has just started to catch up with the EU and the US. In future I expect 80-90% of new millionaires to come from Asia.

The Western societies have begun their societal and economic decline - the future growth regions are Asia and maybe South America.

ya.ya.yo!

[gentlemand]

Asian money will eat the world. My wee relatives are busy learning Chinese. That says plenty.

[mrhelpful]

more population then us by a lot, so I can only expect theres more millionaires.

also its more of the factory based owners who walks away with that kind of money most I think.

[techgeek]

Well 62% sounds about right.

I have a friend here in california whos parents keep on buying houses in the alhambra area where most chinese are at, and I asked him what they do?

Parents own multiple factories and dealerships in asia.

[dollarneed]

in here chinese is most rich and every side of the world you can find chinese people and most of them have a business

[Harry Hood]

It's only normal since there are more people in China alone than in the EU and the US together. I've been following the car industry for many years, and it's been a while that Mercedes sells way more of its most expensive models in China than in Germany. The good thing being that many Chinese are investing abroad, though it's not so good for Londoners by example. Thousands of British people had to move to the suburbs because real estate prices have been rising fast due to Asian buyers.

This. In my opinion Asia has just started to catch up with the EU and the US. In future I expect 80-90% of new millionaires to come from Asia.

The Western societies have begun their societal and economic decline - the future growth regions are Asia and maybe South America.

ya.ya.yo!

Any facts or analysis to back these predictions up or is this just a hunch?

% of new millionaires is only relevant if shown as % of the population, so the different size of populations can be normalized. If China has a billion people it's easy for them to have significantly more millionaires than a small country like England.

[thebigtalk]

The Asia-Pacific region led by China is quickly catching up to the West in terms of wealth.

With the accelerating pace of innovation in mobile communications and fintech, the region
is expected to not only leapfrog the US & Europe by 2019, but also integrate millions
of unbanked people into the global economy.

I actually think it may happen sooner than that, what do you reckon?

Ofcourse. Asia is one of the biggest continent. You don't expect America or Europe to have tons of millionaires in its residence. Compare Asia's hidden treasures to US economy, all hidden golds and treasures around it, the fossil fuel etc.. Think of that for starters. Now think how smart asians are. Indians are very good in formulas and algorithms and US workers always hire other races to work under them. From their brilliant minds, they'll be able to invent something that will make them rich. I don't even think 62% is the right percentage. It's way more than that.

[trinaldao]

The Asia-Pacific region led by China is quickly catching up to the West in terms of wealth.

With the accelerating pace of innovation in mobile communications and fintech, the region
is expected to not only leapfrog the US & Europe by 2019, but also integrate millions
of unbanked people into the global economy.

I actually think it may happen sooner than that, what do you reckon?

Asia is big market with most population in the world, more new Big company come from asia like Oppo , HTC , also you must remember Big market in cryptocoin world in China

[oxiyusuf]

this is inseparable from the start conscious people in Asia, the importance of progress in life, so maybe someday asia will be superior to the west,
and time will tell

[EternalWingsofGod]

It's already occured to an extent as there are more Chinese Millionaires now than any other country than the USA.
http://blogs.wsj.com/chinarealtime/2014/06/10/china-now-has-more-millionaires-than-any-country-but-the-u-s/

Millionaires are on track to "control nearly half" the world's private wealth by 2016.
But while we are seeing more millionaires, the gap between millionaires and billionaires is widening. So even if you're a millionaire, there's reason to think that you're falling behind.
http://www.businessinsider.com/the-us-has-the-most-millionaires-but-china-is-making-millionaires-faster-2015-6#ixzz3dxxGRVvw

If this was a video game it would be congrats you powered up to the millionaire level, unfortunately your only just getting started, Business Tycoon.

[bitcoinmar]

in here chinese is most rich and every side of the world you can find chinese people and most of them have a business

Not only China India is also now worlds fourth biggest economy even with some big problems India is growing very fast and solidly

[ThEmporium]

No wonder, business in Asia is increasing rapidly along with the population. There are new ventures. They are now less dependent on Western countries.

Still, Asian countries dependent on the West, including China and India regards to the Consumer electronic things and other stuffs, I agree China makes cheapest electronic things, but where they will sell ?, they need western countries support to export and sell their products.

[Q7]

With growing economy, there's a huge untapped market and generally those who got in early investing in startups are now already a millionaire. Business is booming and it's a matter on how they seize and grab the opportunity. My hope is that if only that group of people see bitcoin as a viable option for them to protect their wealth.