Beware of Wall Street Greed as China’s Wealth Overtakes America

Commentary A new McKinsey report finds that China’s wealth blew past that of America over the past 20 years. Wall Street is too busy lapping it up to care much for the resulting deterioration of our national security. China has overtaken the United States in net worth, according to a new study. The study, by McKinsey & Co., found that China overtook the United States in the last two decades. From $7 trillion in 2000, one year prior to joining the World Trade Organization, China’s wealth grew exponentially to $120 trillion in 2020. Much of this relative wealth increase was plowed into increasing property prices in China compared to the United States, whose wealth only grew to $90 trillion. China’s government revenues also increased as a result, with the regime putting exponentially increasing amounts into its military. The Chinese military is now so large that the Chinese Communist Party (CCP) …

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