Saturday, January 14, 2017

WHY IS RUSSIA THE MOST UNEQUAL MAJOR COUNTRY IN THE WORLD?

Russia is the most unequal major economy in the world, with almost two-thirds of its wealth controlled by millionaires, a wealth research company has said.

Sixty-two percent of Russia's wealth is held by U.S. dollar-millionaires and 26 percent of its wealth is held by billionaires, New World Wealth said in a report on Wednesday. Russia's economy is climbing out of recession and the International Monetary Fund sees it growing by 1 percent in 2017.

"If millionaires control over 50 percent of a country's wealth then there is very little space for a meaningful middle class," New World Wealth said.

...

Proportion of wealth held by millionaires:

Russia: 62%
India: 54%
UK: 35%
US: 32%
Australia: 28%
Japan: 22%

[source : Russia is the most unequal major country in the world: Study, CNBC, http://www.cnbc.com/2016/09/01/russia-is-the-most-unequal-major-country-in-the-world-study.html, 1st September 2016]

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