Chinese Reportedly Outnumber Americans in Top 10% for Wealth

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Overall, millionaires own 158.3 trillion dollars in net assets, accounting for 44% of total global wealth and assets. CNN Has reported that there are now more Chinese than Americans in the top 10% of the global economy. While China is catching up as a  global power house, it still falls behind in the number of Millionaires compared to that of the …

CHINA’S DOUBLE-EDGED SWORD ON CURRENCY

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China has sought stricter control on currency leaving its borders in an attempt to prevent devaluation of the Yuan. China’s SAFE  (State Administration of Foreign Exchange) Program has implemented blockades on currency exiting China for the purpose of new Real Estate or Insurance transactions. There has been a surge in the smuggling of currency out of China, and SAFE is …