Funny how everyone thought China would get old before it got rich. The opposite seems to be true.
A new Boston Consulting Group study shows America's lock on the most-millionaires title may be in jeopardy after a surge in Chinese wealth. The Middle Kingdom surpassed Japan and Europe in the most recent survey, boasting 2.4 million millionaires. That's still far off the U.S.'s 7.1 million, of course. But the absence of transparency in China and the vast networks that exist to spirit wealth into bank accounts overseas makes it a sure bet BCG's figure is wildly conservative.