News ID: 206204
Published: 0802 GMT December 15, 2017

Rich to get still richer as world inequality grows

Rich to get still richer as world inequality grows

A report shows inequality stabilizing at high levels in most countries, despite gains among the poor in China and much milder disparities in incomes and wealth in Western Europe.

The World Inequality Report 2018 released Friday is based on a massive collection of data compiled by an international team of researchers that includes renowned economists Thomas Piketty and Emmanuel Saez, according to AP.

It shows inequality has soared since 1980 although the global top ‘one percent’ saw their share of global income slip slightly after the financial crisis, to just above 20 percent. It said inequality will likely widen in the future.

The data indicate the share of global income going to the bottom 50 percent has risen slightly in recent years, to 9.7 percent, thanks to gains in populous China and India.

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