Richest 2% own ‘half the wealth’
The richest 2% of adults in the world own more than half of all household wealth, according to a new study by a United Nations research institute.
The report, from the World Institute for Development Economics Research at the UN University, says that the poorer half of the world’s population own barely 1% of global wealth
The analysis shows, as have many other less comprehensive studies, striking divergences in wealth between countries.
Wealth is heavily concentrated in North America, Europe and some countries in the Asia Pacific region, such as Japan and Australia.
These countries account for 90% of household wealth.
And that is the truth, ladies and gentlemen. No matter how much you can rah-rah about India and China having great economies. The population in these two countries are still the poorest of the poor.