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Pandemic Reversed Poverty Reduction
- The pandemic reversed nearly a decade of global progress reducing extreme poverty.
- Meanwhile the richest 1.2% increased their share of global wealth to 47.8%.
Developing Economies Drove Global Equality
- Global income inequality fell for the first time in decades as populous developing countries grew.
- China and other Asia-Pacific economies lifted billions out of extreme poverty and narrowed global gaps.
National Growth Can Raise Domestic Inequality
- Rapid national growth often raises within-country inequality even while reducing global inequality.
- China’s Gini rose from 32 to 44 during two decades of concentrated growth.