Zero Hedge has published some fascinating information on the geographical location of wealth (and poverty) in 2015.
Of course, electronic financial assets exist in a highly mobile deregulated ‘global financial ether’ but the individuals who hold those assets still have to live in the real, physical world.
I’d be interested in observations on this info from readers of The Standard.
My quick summary would be:
- The US and Europe now have significant populations at the poorest end of the spectrum, wealth deciles 1 and 2. Africa and India are very heavily represented there – but China has successfully escaped the severe poverty trap.
- The populations of Africa and India are heavily weighted towards the bottom end of global wealth.
- Today, India, China and the Asia Pacific have the lions share of working class wealth (which I describe as deciles 4-8). However the working class in the USA has utterly collapsed and is being squeezed in Europe.
- Global oligarchy (decile 10) is still dominated by the west, but with Asia Pacific now making a strong appearance. Both Africa and India remain small holders of global wealth.
- Asia Pacific has the most even wealth distribution of all geographical areas – if that’s how you can describe equal numbers of the very poor and the very rich.