Many around the world were pessimistic about inequality even before pandemic
Across 34 countries, a median of 65% said in 2019 they felt pessimistic about reducing the gap between the rich and poor in their country.
Numbers, Facts and Trends Shaping Your World
Across 34 countries, a median of 65% said in 2019 they felt pessimistic about reducing the gap between the rich and poor in their country.
The global economic mood has improved in recent years, yet pessimism remains. Global publics are accepting of trade yet skeptical of its benefits.
Despite some ups and downs over the past several decades, today’s real average wage in the U.S. has about the same purchasing power it did 40 years ago. And most of what wage gains there have been have flowed to the highest-paid tier of workers.
Large-scale refugee flows and lack of progress in slowing global warming are the top risks that the world faces in the coming decade, according to a survey by the World Economic Forum of executives and experts.
Just what is “economic inequality”? Depends on whom you ask.
China and India both succeeded in slashing poverty from 2001 to 2011. But while that contributed to a rapidly growing middle class in China, it did little to increase the number of Indians who could be considered middle income.
On a global scale, the vast majority of Americans are either upper-middle income or high income. And many Americans who are classified as “poor” by the U.S. government would be middle income globally.
Though crude oil continues to be the nation’s single biggest import, energy exports have risen sharply. Exports of some metals and agricultural products also have grown rapidly.
Income inequality will be a key topic of discussion for economic leaders meeting in Davos. Pew Research Center surveys also have shown that income inequality is a global cause for concern.
People with a net worth of more than $1 million represent just 0.7% of the global population, but they have 41% of the world’s wealth. Meanwhile, those with a net worth of less than $10,000 represent 69% of the population, but just 3% of global wealth.
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