For the third year in a row, global financial assets grew by double digits in 2021, (+10.4%). US households are still the wealthiest in terms of total gross financial assets, with marginal growth. As Allianz’s report points out, US dominance remains unchanged by emerging markets catching up.

That said, China doubled its gross financial assets in the past decade, and overtook Japan as the world’s second wealthiest country. Asia's collective growth now makes it the second-wealthiest region after the US, replacing Europe.