China Not Making as Many Millionaires as It Used To

China’s millionaire machine has slowed, suggesting that the country’s economic weakness is reaching the top of the economy.

China’s millionaire population grew 3.6 percent last year, adding 100,000 millionaires and bringing its total millionaire count to 2.9 million, according a new report by the Chinese wealth website Hurun. The growth rate marks a sudden slowdown from the double-digit millionaire growth in China in recent years.

By contrast, the U.S. added 640,000 millionaires last year, bringing its total to 9.63 million, according to Spectrem Group. Spectrem defines millionaires as households with investible assets of $1 million or more.

Read Full Article HERE

bljworldwide via CHINA US Focus http://ift.tt/1isAom1