Inequality Your browser does not support the audio element. Without access to cooling technology, unmitigated warming may reduce average global income by 23% by 2100 and widen global inequality. Rising economic inequality in the United States has become a central issue in the race for the Democratic presidential nomination, and discussions about policy interventions that might help address it are likely to remain at the forefront in the 2020 general election. If the distributions of income, means-tested transfers, and federal taxes follow CBO's projections, income inequality will be greater in 2021 than it was in 2016. High growth over the past decade has been based on unsustainable resource exploitation; addressing the resulting growth in inequality and environmental cost will be critical to ensure social stability and to ensure strong sustainable growth in the coming decade. As income inequality between countries remains high, differences in average incomes remain a major driver for migration By 2030: As a result of war and destruction affecting countries unevenly the current pattern will have changed dramatically. America's pluto-populist president is peddling a tax plan that will further increase economic inequality at a time when income and wealth gaps are already widening. A failure to give the world's poorest women control over their bodies could widen inequality in developing countries and thwart progress towards global goals aimed at ending poverty by 2030. Globalisation, global inequality, climate change and technological innovation will affect the lives of everyone on the planet. Stagnant wages and growing inequality have made Australia more unequal and have placed the country's "traditional egalitarianism" at risk. A new report predicts the United States will see its levels of economic inequality increase due to the uneven geographical effects of climate change. Facilitating more widespread technology adoption within low and middle-income countries will be key response to reduce extreme poverty and prevent global inequality from rising. Achieving the 17 Sustainable Development Goals - which include clean water, clean energy, sustainable cities, climate action, responsible consumption, reduced inequality and more - could open a market opportunity of $12 trillion by 2030. The next decades offer an opportunity to address African urban poverty and inequality and shape development priorities to ensure that urbanisation helps foster well-functioning, liveable and sustainable cities. Leadership might require companies to take positions and advocate for change on global inequality - including in-work poverty. In Africa and in the LDCs, eradicating poverty by 2030 will require both double-digit GDP growth and dramatic declines in inequality, illustrating the scale of the current challenges faced. The combination of increasing economic inequality and declining social mobility threatens the equality of opportunity at the core of the American dream. The global economy is in distress: Economists warn of another two decades of declining productivity, slow growth, steep unemployment, and increasing inequality. While the economic performance of many Asian countries remains robust, in 2025 there are also likely to be several middle-income countries with persistent pockets of poverty, vulnerability to income shocks and high levels of inequality. The 21st century poses new and multiple challenges to public services, including an increased number of poor people, widening inequality, jobless economic growth, multi-dimensional security threats, persistent food insecurity and the irreversible impact of climate change. In 2019, the UK will continue to press for further progress on human rights, including efforts to improve press freedoms, tackle gender inequality, and encourage the reform of discriminatory laws. Strategy 2030 will steer ADB's approach for addressing challenges in Asia and the Pacific such as rising urbanization and demographic shifts, and tackling the unfinished development agendas of eradicating poverty, reducing inequality, and closing infrastructure gaps. The Asian Development Bank (ADB) will step up efforts to address rising inequality. If all countries follow the inequality trajectory of Europe between 1980 and 2016, the average income of the Bottom 50% of the world population will be €9100 by 2050. See full forecast Last updated: 05 July 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
