Banking services chronicle

Banking services chronicle

Banking services chronicle   Published this article page no  20 Key Findings o Top 10% of the global population owns 76% of total household wealth and captured 52% of total income in 2021. o Bottom 50% of the global population owns just 2% of wealth and 8% of income. o Women make just a third of global labour incomes which has seen very limited change since 1990. o A very moderate wealth tax for global billionaires can generate 1.6% of global income. ○ The Gini index or Gini coefficient is used as a popular tool to measure income distribution inequalities globally. The coefficient ranges from 0 (or 0%) to 1 (or 100%) with 0 representing perfect equality and 1 representing perfect inequality. Values over 1 are theoretically possible due to negative income or wealth.Changes in global inequality Inequality across all individuals in the world declined for the first time in the 1990s since the 1820s as the developing world started to grow faster than developed countries. o But the pandemic threatens to undo those gains widening the gap between rich and poor nations once again by slowing the growth of developing countries.Inequality within nations Within developing nations the inequalities have increased significantly. E.g. In India the top 10% holds 77% of national wealth. In comparison the poorest 67 million Indians saw only 1% increase in wealth. Impact of persistent Economic  Inequality Banking services chronicle  buy.

Banking services chronicle