19% would be the complacent middle class 🤮

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[–] 7 points 5 months ago (1 child)

According to the World Inequality Index, between 1999 and 2024, the top-1% in Canada grew their wealth from 26% to 29%.

In the same period in other countries, the top-1% changed their wealth:

  • in Australia and New Zealand, more or less unchanged at around 23%
  • in Europe, more or less unchanged around 25%
  • in the USA, grew from 31% to 35%
  • in China, grew from 19% to 30%
  • in Russia, grew from 40% to 49%
  • in Latin America, unchanged at around 36%
  • Oceania, grew from 24% to 27%
  • Sub-Saharan Africa, shrank from 38% to 34%

Worldwide, the top-1% share was stable at around 37%.

In the same period 1999-2024, the wealth of the bottom-50% in Canada slightly shrank from 15% to 14%. In other countries:

  • in Australia and New Zealand, more or less unchanged at around 5%
  • in Europe, more or less unchanged around 3%
  • in the USA, grew from 0.6% to 1%
  • in China, shrank from 14% to 6%
  • in Russia, shrank from almost 7% to less than 3%
  • in Latin America, unchanged at 2%
  • Oceania, decreased from 3% to 2%
  • Sub-Saharan Africa, slightly increased from below 2% to 2.1%

Worldwide, the bottom-50% grew their share of the total wealth slightly from 7% to 8%.

Source for the top 1%, here for the bottom 50%.

You can play around in the linked diagrams for other countries and regions.

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  • [–] 5 points 5 months ago* (3 children)

    Geez China. So much for lifting a billion out of poverty.

    I mean, conditions have gotten better, but clearly there's gaps.

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  • [–] 4 points 5 months ago (1 child)

    There is ample evidence that inequality is on the rise in China.

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  • [–] 3 points 5 months ago (2 children)

    Yes, and you just posted it. Did you think I was arguing?

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