With China in lead, Asia Pacific poised to be richest region

This is the region whose rules we insist we, not China, must write.  Odd, to say the least.

With China in lead, Asia Pacific poised to be richest region

Updated: 2015-06-16 11:27

By Paul Welitzkin in New York (China Daily USA)

China created one million new millionaires last year as the country's
roaring stock market bolstered the ranks of the wealthy, according to
a global wealth report released on Monday.

The US maintained the largest number of millionaires last year at
about 6.9 million. China was in second place with 3.6 million,
followed by Japan with 1.1 million, according to Global Wealth 2015:
Winning the Growth Game, released by the Boston Consulting Group
(BCG).

For the first time, Asia-Pacific (excluding Japan) passed Europe in
wealth, totaling $47.3 trillion to $42.5 trillion, the report showed.
It predicts that the Asia-Pacific region will probably become the
richest region in the world next year with an estimated $57 trillion
of private wealth, surpassing North America's projected $56 trillion.

"When it comes to wealth Asia is the place to be," said Federico
Burgoni, a partner and leader of BCG's asset and wealth-management
segment in the Asia-Pacific region. "China and India are speed driving
the growth in Asia Pacific, but Indonesia and Thailand are also
producing growth."

"More than two thirds of the new wealthy (in Asia Pacific) were
entrepreneurs," noted Burgoni.http://usa.chinadaily.com.cn/us/2015-06/16/content_21023188.htm