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(CNN) - For the first time, there are more wealthy Chinese than Americans among 10% of the richest people.
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A new Credit Suisse (CS) report shows that wealth in China is increasing and that the country now has 100 million of the world's 10% richest people. There are 99 million Americans in the same category.
The United States still has many more millionaires: 18.6 million, or 40% of the world total, compared to 4.4 million in China. It is also adding to the millionaire count at a faster rate. The report accredits low interest rates and Republican tax cuts for the eleventh consecutive year of increasing the country's wealth.
The average American is also much richer than his Chinese counterparts, with an American wealth per adult of $ 432,365 compared to $ 58,544 in China.
But China is entitled to a growing share of the pie, replacing Europe as the main engine of global wealth growth. That despite the commercial war that weighs on the economy of the nation.
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"Trade conditions and debt levels are causing concern, but the signs for the coming years are quite positive," Credit Suisse noted in his Annual World Wealth Report.
The report highlights the extent to which global wealth is concentrated at the top. The bottom 50% of adults represents less than 1% of total wealth, while the top 10% has 82%. Only the top 1% have almost half of all global assets, according to Credit Suisse.
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The threshold to reach the top 10%, worldwide, is approximately $ 109,400 in net assets. To be in the top 1%, you would need a little more than $ 936,400.
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Even so, the image of inequality of wealth since the financial crisis of 2008 is complicated. While artificially low interest rates and central bank bond purchase programs led to a boom in asset prices, raising the 1% higher share of wealth holders, inequality “continued to decline for that are below ”in that segment, says Credit Suisse.
The share of the lower 90% now represents 18% of the world's wealth, compared to 11% in 2000. Since 2016, the share of the top 1% has been greatly reduced, according to the bank.
"While it is too early to say that wealth inequality is now in a downward phase, the predominant evidence suggests that 2016 may have been the peak in the foreseeable future," the report authors write.
United States Millionaires