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Old 16th August 2012, 11:01 PM
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The richest country of the future: it's not China

http://ca.finance.yahoo.com/news/asi...104909801.html
(only yahoo Canada puts a picture of Toronto skyline, in an article that talks about Asian countries)

Singapore, Hong Kong, Taiwan and South Korea are projected to be the world's richest economies on a per capita basis by 2050 as the region's rapid growth boosts wealth creation, a study showed. The survey by property giant Knight Frank and Citi Private Bank, reported in Singapore media Wednesday, also showed multi-millionaires in Asia will continue to outnumber those in North America and Western Europe by 2050.
Singapore topped the list in 2010 and is expected to keep the top spot in 2050, when the city-state's gross domestic product (GDP) per capita would reach $137,710.
It will be trailed by Hong Kong ($116,639), Taiwan ($114,093) and South Korea ($107,752) with the United States coming in fifth place, falling from third place in 2010.
Singapore's 2010 GDP per capita stood at $56,532, while Hong Kong ($45,301) -- the only other Asian economy in the top 10 that year -- was in fourth place.
Taiwan and South Korea were not even in the top 10 in 2010.
"While rapid GDP growth does not in itself guarantee a sharp rise in high networth individuals, rapidly growing economies do provide key opportunities for large-scale wealth creation," Grainne Gilmore, head of UK Residential Research at Knight Frank, wrote in the study.
Gilmore said there are now around 18,000 "centa-millionaires" -- those with $100 million or more in assets -- in the region covering Southeast Asia, China and Japan, more than the 17,000 in North America and 14,000 in Western Europe.
By 2016, Southeast Asia, China and Japan are expected to have 26,000 centa-millionaires, compared with 21,000 in North America and 15,000 in Western Europe, she wrote, citing data from Ledbury Research.
On a country basis, the United States will lead in 2016 with 17,100 centa millionaires but China is expected to double its numbers to 14,000.
"Southeast Asian deca-millionaires -- those with $10 million or more in assets -- already outnumber those in Europe and are expected to overtake those in the US in the coming decade," she said.
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Old 17th August 2012, 07:23 AM
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Re: The richest country of the future: it's not China

US coming in fifth?

If the US actually measured wealth generation rather than semantics it would not be in third place now?

Things can change a lot. When I left school it was predicted that the UK would be on par with Albanian within 20 years. Germany and Japan grew from nothing after the war to a position of domination within 30 years.

The other consideration you need to make before utterly dismissing these figures is the motivation for producing them in the first place.
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Old 18th August 2012, 04:55 AM
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Re: The richest country of the future: it's not China

Bored yet?

Last edited by blastfromthepast; 18th August 2012 at 04:55 AM..
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Old 18th August 2012, 01:41 PM
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Re: The richest country of the future: it's not China

I do find it amusing that people have the audacity to predict what the world will be like in 2050. We will most likely be all underwater, or worse. Who gives a flying f*** what some analyst with nothing better to do predicts who will be "rich" then??????

I bet the guy can't even find his socks in the morning.
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Old 18th August 2012, 02:20 PM
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Re: The richest country of the future: it's not China

Quote:
Originally Posted by domainguru View Post
I do find it amusing that people have the audacity to predict what the world will be like in 2050. We will most likely be all underwater, or worse. Who gives a flying f*** what some analyst with nothing better to do predicts who will be "rich" then??????

I bet the guy can't even find his socks in the morning.
Absolutely agree in general.

But I will guarantee that US will not be in top ten let alone top five in terms of GDP per Capita.

Of course most of the top ten will be specs on the map rather than continental super giants.

I can guarantee that The Fake It Until You Make It routine will not hold until 2050.
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Last edited by Rubber Duck; 18th August 2012 at 02:21 PM..
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Old 18th August 2012, 02:58 PM
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Re: The richest country of the future: it's not China

GDP per capita does not measure quality of life.
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Old 18th August 2012, 03:27 PM
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Re: The richest country of the future: it's not China

Quote:
Originally Posted by bwhhisc View Post
GDP per capita does not measure quality of life.
which is precisely why Greece still makes a better destination.
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Old 18th August 2012, 07:38 PM
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Re: The richest country of the future: it's not China

Quote:
Originally Posted by Rubber Duck View Post
which is precisely why Greece still makes a better destination.
You got that right!!

I lived in Greece for 2 years and many did not have a lot, but they filled their life with
friends, good food, good music, a few card games and their national passion for debating politics.
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Old 19th August 2012, 03:56 AM
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Re: The richest country of the future: it's not China

Quote:
Originally Posted by bwhhisc View Post
You got that right!!

I lived in Greece for 2 years and many did not have a lot, but they filled their life with
friends, good food, good music, a few card games and their national passion for debating politics.
You had me hooked there, ready to buy a plane ticket and ship over, until you blew it at the end with "debating politics". Can't imagine a more ghastly way to spend time
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Old 19th August 2012, 02:10 PM
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Re: The richest country of the future: it's not China

Quote:
Originally Posted by domainguru View Post
You had me hooked there, ready to buy a plane ticket and ship over, until you blew it at the end with "debating politics". Can't imagine a more ghastly way to spend time
You probably don't speak Greek so you just watch and enjoy and passion. Probably the only place where when an auto accident can takes place with 20 witnesses and they take sides to debate who was at fault! I think the Greeks invented debating if I remember history right!
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Old 20th August 2012, 06:47 AM
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Re: The richest country of the future: it's not China

Quote:
Originally Posted by bwhhisc View Post
Probably the only place where when an auto accident can takes place with 20 witnesses and they take sides to debate who was at fault!
So you are saying they enjoy mass-debating then?
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