Income Inequality Statistics: China Is The Most Unequal Country On EarthJanuary 22, 2013 1:19 pm
That one came as a surprise to us. Given the fact that Capitalism is not a welcome term in China, this was definitely a surprise. But here are some inequality statistics we spotted today:
1. In the US the share of national income going to the top 1% has doubled since 1980 from 10 to 20%. For the top 0.01% it has quadrupled to levels never seen before.
2. At a global level, the top 1% (60 million people) and particularly the even more select few in the top 0.01 (600,000 individuals – there are around 1200 billionaires in the world), the last thirty years has been an incredible feeding frenzy
3. In China the top 10% now take home nearly 60% of the income. Chinese inequality levels are now similar to those in South Africa, which are now the most unequal country on earth and significantly more unequal than at the end of apartheid