Asia Becomes World’s Wealthiest Region

According to a new study by Credit Suisse, Asia has become the wealthiest region in the world. The study found that the region surpassed Europe in terms of household wealth in the 12-month period ending June.

While total global household wealth dropped 5.2%, Europe took the biggest hit due to its debt crisis and the global economic slowdown, with its wealth falling 14% to $69.3 trillion. Asia’s wealth proved more resilient, contracting only 1.9% over the same period to $74.1 trillion.

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