Global Market Cap to Annual Liquidity

Global equity market capitalization divided by total annual value traded (World Bank). This is the inverse of the turnover ratio — a measure of how many years of trading activity equals total market cap. When this ratio rises, it means markets have grown faster than trading volume, implying that "opposing liquidity" is thinner relative to overall market size. The viral X post framing this as 6–8x uses a narrower liquidity definition (intraday depth, not annual volume), but this chart captures the same structural trend directionally.