Center for Global Development’s Post

Join this discussion: Global economy and class, gender and racial inequalities. I will briefly speak and propose to the G20 a New Debt Architecture and a no debt-create mechanism through SDRs issuance. Session link: https://bit.ly/3T4VeBP

𝗪𝗵𝘆 𝗪𝗲𝗮𝗹𝘁𝗵 𝗜𝗻𝗲𝗾𝘂𝗮𝗹𝗶𝘁𝘆 𝗠𝗮𝘁𝘁𝗲𝗿𝘀: 𝗔 𝗚𝗹𝗼𝗯𝗮𝗹 𝗣𝗲𝗿𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲 🌍 Wealth inequality is a pressing issue that affects societies worldwide. This visual from Statista highlights the wealth inequality index scores in 2023 and changes since 2008 in selected countries. 📈 𝗛𝗶𝗴𝗵 𝗜𝗻𝗲𝗾𝘂𝗮𝗹𝗶𝘁𝘆: South Africa (82), Brazil (81), and the United States (75) top the list, showcasing significant wealth gaps. 📉 𝗗𝗲𝗰𝗿𝗲𝗮𝘀𝗶𝗻𝗴 𝗜𝗻𝗲𝗾𝘂𝗮𝗹𝗶𝘁𝘆: Germany (-5.4%) and South Korea (-8.1%) have made strides in reducing wealth inequality. 🔄 𝗥𝗶𝘀𝗶𝗻𝗴 𝗜𝗻𝗲𝗾𝘂𝗮𝗹𝗶𝘁𝘆: India (+16.2%), Brazil (+16.8%), and South Africa (+17.7%) have seen notable increases over the past 15 years. Wealth inequality can hinder economic growth, limit social mobility, and create social tensions. Addressing this issue requires innovative policies, inclusive growth strategies, and collective action. 𝗟𝗲𝗮𝗿𝗻𝗶𝗻𝗴𝘀 1. 𝗣𝗼𝗹𝗶𝗰𝘆 𝗜𝗺𝗽𝗮𝗰𝘁: Effective government policies can significantly reduce wealth inequality. Germany and South Korea serve as examples of how strategic interventions can make a difference. 2. 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗲𝘀: Inclusive growth strategies that focus on equitable wealth distribution can enhance social stability and economic resilience. 3. 𝗖𝗼𝗹𝗹𝗲𝗰𝘁𝗶𝘃𝗲 𝗔𝗰𝘁𝗶𝗼𝗻: As business leaders, policymakers, and citizens, we must advocate for and implement practices that promote fairness and reduce disparities. 👇 𝗖𝗼𝗺𝗺𝗲𝗻𝘁 𝗕𝗲𝗹𝗼𝘄: What are your thoughts on wealth inequality? How can we work towards a more equitable society? Share your ideas and experiences! 🔄 𝗦𝗵𝗮𝗿𝗲 𝗧𝗵𝗶𝘀 𝗣𝗼𝘀𝘁: If you found this information valuable, share it with your network to spread awareness and foster discussion. 🌟 𝗙𝗼𝗹𝗹𝗼𝘄 𝗠𝗲 Abinash Mishra : For more insights on global trends, economic issues, and strategies for inclusive growth, hit the follow button! Let’s learn and grow together. 𝘊𝘳𝘦𝘥𝘪𝘵: 𝘚𝘵𝘢𝘵𝘪𝘴𝘵𝘢 #WealthInequality #EconomicGrowth #InclusiveGrowth #GlobalTrends #SocialMobility #Leadership #Statista

HOW DO WE BUILD A STRONG NATION Building a strong nation is a complex endeavor, and we list out some factors of great nations that have implemented them: Education: Empowered People: An educated populace is crucial. A skilled workforce can drive innovation, entrepreneurship, and economic growth. Nations must prioritize education, focusing on critical thinking and problem-solving skills, leading to a highly skilled workforce Effective Governance: Stability and Rule of Law: A strong and transparent government that upholds the law creates a stable environment for businesses and citizens to thrive. Good governance and a focus on anti-corruption measures lead the way. Infrastructure and Economy: Investment in the Future: Strong nations prioritize infrastructure development, transportation networks, communication systems, and energy grids. Massive infrastructure projects play a key role in its economic rise. Social Cohesion and Equality: Unity in Diversity: Strong nations foster a sense of national identity while embracing diversity and inclusion. multiculturalism and social safety nets, promote unity and a strong citizenry Innovation and Adaptability: Future-Proofing: The ability to adapt to change and invest in new technologies is essential leading to transformation. It's important to note that building a strong nation is an ongoing process. History is full of nations that have risen and fallen, and there's always more to learn about the complex factors that contribute to a country's strength. India can become much stronger and unstoppable if it takes care of Corruption (as pointed out by its intellectuals) and promotes social cohesion, religious harmony equality before the law, and Unity in diversity.

Innovation may be a well-known driver of economic growth, but what impact does it have on income inequality? In China, the effect has varied over the years. A new study has found that innovation reduced income inequality between 2006 to 2009 before exacerbating it from 2013 to 2016. Since 2018, it has switched back to alleviating it. The negative impact of innovation on income inequality was attributed to financial permeation, with unequal access to financial services limiting people's ability to benefit from innovation. This is an important reminder that it's not enough to just focus on accelerating innovation. If we want everyone to benefit from innovation and the economic growth it creates, we need to focus on factors like financial permeation that may widen existing inequalities. It's a complicated task but it's worth it to create a more equitable world. #Innovation #EconomicGrowth #FinancialPermeation #IncomeInequality

The fight against Sexual and Gender-based violence should also be centered around girls and women empowerment and equality. Empowering women and ensuring women are in a better position to make economic decisions however small would reduce their susceptibility to SGBV. #womenempowerment #endsgbv #protectwomen

Oxfam International's latest report, Inequality Inc., outlines how corporate power divides our world and, among other things, how the combined fortunes of the world's five richest men have more than doubled to $869 billion since 2020 while five billion people have become poorer. As billionaires gather in Davos for the World Economic Forum, Oxfam has released a report suggesting “a more equal world is possible if governments effectively regulate and reimagine the private sector.” What do you think? Comment your thoughts below #ethciallyoutsourced #davos #WEF #oxfam

Radical Pathways Beyond GDP: Why and how we need to pursue feminist and decolonial alternatives urgently

Glad for the opportunity to know more about the economic empowerment and leadership cooperative for immigrant women and first-generation Canadians, focusing on financial independence and resilience, during today's insightful conversation hosted by Canadian Securities Institute: Investing in Inclusion.

To date, countries have lost out because of the gender digital divide. The Costs of Exclusion economic model estimated that low- and lower-middle-income countries had lost over USD $1 trillion in economic activity over the past decade because of women’s lower rates of participation in the digital economy. Without substantial policy interventions to close the digital divide, countries are on track to lose over USD $500 billion in the next 5 years, essentially repeating economic losses. Learn more in our report: https://gdip.ngo/3VnOkut

Drawing on the development experience and advances in economic analysis since the 1950s, World Development Report 2024 identifies what developing economies can do to avoid the “middle-income trap.” Lower-middle-income countries must go beyond investment-driven strategies—they must also adopt modern technologies and successful business practices from abroad and infuse them across their economies. Upper-middle-income countries need to accelerate the shift to innovation, by pushing the global frontiers of technology. This requires reconfiguring economic structures governing enterprises, labor, and energy use—in ways that enable greater economic freedom, social mobility, and political contestability.