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October 11, 2012

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On wealth track

CHINA may become the world's wealthiest country by household assets after the United States in five years as the nation's middle-class consumers grow richer, Credit Suisse Group AG forecast.

The nation will add US$18 trillion in household wealth by 2017, taking its total to US$38 trillion, according to the bank's global wealth report yesterday. That would surpass Japan's US$35 trillion, and be less than half of the US's US$89 trillion. Household wealth in the Asia-Pacific region will rise 55 percent to US$115 trillion by 2017, Credit Suisse forecast, accounting for 35 percent of global wealth.

 

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