ndia and China saw the sharpest rise in the number of millionaires last year, according to a new study, and wealth in the Asia-Pacific region is expected to grow 8 percent a year to 2012, even amid a global economic slowdown. The study, by Merrill Lynch and Capgemini, found that the number of millionaires in grew 22.7 percent in India last year and 20.3 percent in China, compared with a global average of 6 percent and a regional average of 8.7 percent. China, with 415,000 millionaires, replaced France as having the fifth largest millionaire population. (Reuters)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Why China's Communist Party is headed for collapse
- 31 TV shows to watch in 2014
- Why Texas Republicans may want to cool the anti-Obama land-grab talk
- He said he was leaving. She ignored him.
- Why the poor's investment of choice is so alarming
- How to make perfect fried rice in 6 easy steps
- Obama doesn't have a manhood problem — but conservatives certainly do
- What would a U.S.-Russia war look like?
- Why atheism doesn't have the upper hand over religion
- Why we need a maximum wage
Subscribe to the Week