The United States already has so much more wealth than the rest of the world, it doesn't make sense to say that inequality has declined when there has been a $17,000 increase in the scale of the gap between the US and the global south. If you are Bill Gates or if you're a rich middle class consumer in the United States or Australia, it might make sense to use a relative metric because you might think our my income should continue to grow at the same speed as people in the global South. What's going to matter more I would argue is the absolute gap. It matters a great deal as you also note with how you measure things like extreme poverty.

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