Income inequality

the world taken as a single country would be as unequal as the most unequal country on earth, South Africa

World’s inequality was reduced in the past 30 years, for the first time since maybe the 1820’s and this was mainly due to China getting back into the world economy. No longer, right now China is more unequal than the average, so its growth will add inequality

Will Africa grow and reduce world inequality? Very likely no, african countries need growing on avergae 7-8% a year and historically they have not recorded that steady growth ever. And also India needs growing and pulling its population out of poverty, will it succed?

So, unless advqned countries takes a decisive action within, world inequality will soon stop oing down and will start growing again

Thanks Branko Milanovic for that clear view http://glineq.blogspot.com/2021/05/notes-on-global-income-inequality-non.html

and 2 charts from here https://twitter.com/BrankoMilan/status/1211317792361926658

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