India 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 Bottom Line
June 25, 2008
Try 4 Risk-Free Issues of The Week magazine.