China’s household wealth will double to US$35 trillion within five years if current domestic growth rates continue, state media reported, citing a new report by Credit Suisse. Current household wealth in China is estimated to be roughly US$16.5 trillion, behind only the US and Japan. The report reckons this figure is growing at 10 times the global average. Osama Abbasi, Credit Suisse Asia Pacific CEO, said that "[t]he report confirms that Asia Pacific countries, which now make up the bulk of the world’s middle class of emerging consumers, are driving the growth of the world’s wealth." The report also predicted that global wealth would rise 61% to US$315 trillion by 2015.