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Asian Millionaires, Nonwhites Top Rankings: So?


A finance company has found that Asia’s millionaires now control more wealth than those in North America or Europe. According to the report, Asian millionaires held $17.4 trillion of wealth, compared with $16.6 trillion in North America, a report by Capgemini said. Simultaneously, the Wall Street Journal reported that non-whites surpass whites in hundreds of counties across the United States. Both reports point to shifts in global power. This is historically important, as white men have exerted disproportionate power over the rest of the world since at least the conquest of the Americas in the 15th century. That should be really all to it. In almost every other sense, this bits of news are almost completely irrelevant. Why should it matter that people with different complexion top one chart or the other, except to contrast it with past or present racism. It is much of much bigger relevance that the richest one percent now have as much wealth as the rest of the world combined, according to an Oxfam report. That the wealthiest 62 individuals now are as rich as the poorest fifty percent of the global population points to imbalances that require much more urgent attention than the color of their skin or the countries where they live.


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