Monday, October 20, 2014

World wealth report

Credit Suisse, a famous financial services holding company, published a report regarding world wealth.

Credit Suisse: Global Wealth Report 2014

The Telegraph: Credit Suisse global wealth report: Are you among the world's richest?

It is a detailed report describing global wealth distribution. According to this report, the top 1% of people possess more than half of the world wealth.

I think that this fact itself is not a matter. There are a few persons with great talent and luck. It is unavoidable that distribution of wealth emerges.

On the other hand, equality in each country is also reviewed in this report. In Hong Kong, Switzerland, and the US are unequal in developed countries. Instead, Belgium and Japan are the least unequal countries, thus top decile shares less than 50% of national wealth. This result may be surprising for some Japanese. Indeed, there are lots of poor people in most countries other than Japan.

Percentage change in household wealth is also interesting. In this region, the UK is the most progressive country. The house price has been raised by 10% in a year. Meanwhile, the inequality has become broaden in the UK, unlikely to other developed countries. In contrast, Ukraine has experienced the extreme shrink in household wealth, perhaps due to the border conflict.

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