There are now more rich people in East Asia than in North America. Both have around 3 million millionaires and there are 11 million worldwide.
But don’t forget about the little countries. Japan still has three times as many millionaires as China.
And, if the rest of Asia were to unite they would outnumber China too. Perhaps, a strategic partnership could counter-balance the Rising Tiger.
Looking at the rest of the world, North America still has more money and really rich people – more billionaires than anyone lese. Europe is solidly in third place, while the Middle East is tied with Latin America. But only tied in terms of people, not overall wealth. I guess Latin Americans can buy bigger boats than Middle Easterners.
Microsoft’s market capitalization peaked on December 30, 1999, reaching an intraday high of $119.94 per share. With Microsoft having documented 5,160,024,593 outstanding shares the company would have had a market capitalization of $618.89 billion on December 30.
Apple’s most recent quarterly filing listed 937,406,000 outstanding shares as of July 13, 2012, and with the company’s stock price hitting $660.73 today, its market capitalization reached $619.37 billion.
Here come the caveats. If you adjust those 1999 dollars for today’s value Microsoft would be valued at $840+ billion.
Plus, there are several government-owned petroleum companies supposedly worth a whole lot more. The Saudi Arabian oil company, Saudi Aramco, is thought to be worth several trillion dollars and the Chinese company, PetroChina, IPO’ed at over a trillion dollars. But, since they’re not public and/or accountable governments those numbers are suspect.
What if Mexico were to become a bigger economy than Brazil?
In recent years Brazil has outplayed Mexico, growing at 6% or more as Mexico bumped along in the slow lane. But lately that has changed. Last year Mexico grew by 4% and Brazil by 2.7%. This year Mexico is expected to get close to 4% again, whereas some economists reckon that Brazil’s rate could dip below 2%. A recent report by Nomura predicted that Mexico’s economy, currently half the size of Brazil’s, could end up the bigger of the two within the next decade. – The Economist
To get into some detail, in 2011 Mexico had a GDP of $1.15 trillion and Brazil with $2.48 trillion. It seems like a tall order for Mexico to more than double its economy.
But, if you look at certain sectors, like automobiles, Brazil is starting to face some growth problems. Originally, the country grew by exploiting is size, natural resources, and population. In order to keep up growth they will need to expand internationally with products and services.
Last year, Brazilians created 3.4 million cars and exported only 540,000. That is worth $372 million. Mexico, on the other hand, created 2.6 million cars and exported 2.1 million of them. That is worth $2 billion and reflects a growth of 40%. (The Economist)
Mexico may be more ideally situated for growth in the next few decades than Brazil is.
Two teams of astronomers have discovered the largest and farthest reservoir of water ever detected in the universe. The water, equivalent to 140 trillion times all the water in the world’s ocean, surrounds a huge, feeding black hole, called a quasar, more than 12 billion light-years away.
“The environment around this quasar is very unique in that it’s producing this huge mass of water,” said Matt Bradford, a scientist at NASA’s Jet Propulsion Laboratory in Pasadena, Calif. “It’s another demonstration that water is pervasive throughout the universe, even at the very earliest times.”
A quasar is powered by an enormous black hole that steadily consumes a surrounding disk of gas and dust. As it eats, the quasar spews out huge amounts of energy. Both groups of astronomers studied a particular quasar called APM 08279+5255, which harbors a black hole 20 billion times more massive than the sun and produces as much energy as a thousand trillion suns.
Astronomers expected water vapor to be present even in the early, distant universe, but had not detected it this far away before. There’s water vapor in the Milky Way, although the total amount is 4,000 times less than in the quasar, because most of the Milky Way’s water is frozen in ice.
And, the instruments they used:
Bradford’s team made their observations starting in 2008, using an instrument called “Z-Spec” at the California Institute of Technology’s Submillimeter Observatory, a 33-foot (10-meter) telescope near the summit of Mauna Kea in Hawaii. Follow-up observations were made with the Combined Array for Research in Millimeter-Wave Astronomy (CARMA), an array of radio dishes in the Inyo Mountains of Southern California.
The second group, led by Dariusz Lis, senior research associate in physics at Caltech and deputy director of the Caltech Submillimeter Observatory, used the Plateau de Bure Interferometer in the French Alps to find water.
“The interesting thing about Islam,” says Professor Constant Mews, “is that it was a much more commercial culture from the outset than Christianity.”
And from around the middle of the eighth century to the middle of the 13th, while European Christians were struggling through the Dark Ages, the Islamic world enjoyed a golden age.
Arab merchants had a lot to do with it.
“They developed alternative ways of regulating funds,” says Mews.
“In particular the core Islamic principle is simply one of sharing profit and loss. The desire is to promote investment by taking commercial risk.
“Risk, incidentally, is an Arabic word, referring to where you lend money to others without requiring a return unless there is profitable growth.”
And for some 500 years, this financial model underpinned advances in science, the arts, architecture, and innovation generally. Then came the Crusades and the Mongol hordes, and the Islamic model of finance declined, the space becoming filled by that other model.
Islamic finance, however, is undergoing something of a renaissance.
It is now a USD1 trillion industry…Mohamed Ariff continues the litany of statistical growth: there are 57 majority-Muslim nations, 76 countries which already practice Islamic banking, 350 banks, 15 insurance companies and about 1,200 mutual funds.
Every six months, Earth’s biggest supercomputers have a giant race to see which can lay claim to being the world’s fastest high-performance computing cluster.
In the latest Top 500 Supercomputer Sites list unveiled Monday morning, a newly assembled cluster built with IBM hardware at the Department of Energy’s Lawrence Livermore National Laboratory (LLNL) takes the top prize. Its speed? A whopping 16.32 petaflops, or 16 thousand trillion calculations per second. With 96 racks, 98,304 compute nodes, 1.6 million cores, and 1.6 petabytes of memory across 4,500 square feet, the IBM Blue Gene/Q system installed at LLNL overtakes the 10-petaflop, 705,000-core “K computer” in Japan’s RIKEN Advanced Institute for Computational Science.
The Japanese computer had been world’s fastest twice in a row. Before that, the top spot was held by a Chinese system. The DOE computer, named “Sequoia,” was delivered to LLNL between January and April. It’s the first US system to be ranked #1 since November 2009.
To get to 16 petaflops, Sequoia ran the Linpack benchmark for 23 hours without a single core failing, LLNL division leader Kim Cupps told Ars Friday in advance of the list’s release. The system is capable of hitting more than 20 petaflops—during the tests it ran at 81 percent efficiency. Learn more – With 16 petaflops and 1.6M cores, DOE supercomputer is world’s fastest