The total value of China’s built environment has overtaken that of the US for the first time, reaching $48 trillion compared with America’s $37 trillion, according to a new study.
Thus China’s stock of buildings and infrastructure now constitutes 21% of the world’s $218 trillion worth of built assets.
If the trend continues, what China has built for itself will be worth more than twice America’s built assets by 2025, says global designer and consultant, Arcadis.
The figures are contained in the Dutch firm’s Global Built Asset Wealth Index, published every two years.
Despite signs that China’s domestic economy is having trouble absorbing the high rate of investment, it is likely to continue at home and abroad, said Adam Sutton, Arcadis’ regional leader for Asia.
While China’s assets have increased, the value of built assets in the US has remained static, and has fallen in major European countries.
Since 2000 Russia’s assets have fallen in value by 19%, France’s by 10%, the UK’s by 9% and Italy’s by 6%.
The greatest growth in the built environment was in Qatar (677%) followed by China (227%), Saudi Arabia (204%) and India (142%).
In terms of per capita asset wealth, Qatar is top of the table with almost $200,000 for every citizen, if not every resident. Next is Singapore with about $190,000, Hong Kong with $160,000 and Japan with about $143,000.
Photograph: The skyline of the port city of Tianjin, China (Nangua/Wikimedia Commons)
