China led the way in attracting net private capital inflows, taking in about 55 billion dollars in 2007. Assets held overall by the world's millionaires soared to 40.7 trillion dollars last year from 2006, with the average exceeding 4.0 million dollars for the first time.
"This year's report found that the number of high net worth individuals (with net assets, excluding primary residences, of at least 1.0 million dollars), and the amount of wealth they control, continued to increase in 2007, with the greatest wealth being created in the emerging markets of India, China and Brazil," says Robert McCann, president of Global Wealth Management at Merrill Lynch.
The number of millionaires jumped 22.7 percent in India last year, 20.3 percent in China and 19.1 percent in Brazil.
During last year, the Standard and Poor’s 500 Index of the largest US stocks rose 3.7%, the UK’s FTSE 100 Index gained 2.4% and the Morgan Stanley Capital International Emerging Markets Index climbed 37%.
Growth in the number of millionaires slowed to about 4% in the US and 2.1% in the UK. That was outpaced by an 8.7% rise in the Asia-Pacific region and 16% jump in West Asia. The International Monetary Fund predicts advanced economies this year will suffer their fastest price gains since 1995 and their weakest expansion in seven years.
415,000... the number of millionaires in China.
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