🌍 Hey fam! At the #G20 summit in Johannesburg, top economists like Nobel laureate Joseph Stiglitz just dropped a truth bomb: global wealth inequality is now an 'emergency' that's shaking up democracies everywhere. 😱
Here's the lowdown: between 2000 and 2024, the richest 1% scooped up 41% of all new wealth, while the bottom half got only 1%. That's huge—and unfair. One in four people worldwide is skipping meals, and billionaire fortunes are through the roof. 🤑🍽️
Why does it matter? When economic gaps get too wide, mistrust in institutions skyrockets, politics polarize, and social tensions flare up. More than 80% of countries and regions are experiencing 'high inequality,' and data shows they're seven times more likely to see a democratic downturn. 📉
What's the fix? Experts propose setting up an International Panel on Inequality (think of it as the climate panel but for wealth gaps). This squad would dig into everything from land ownership to tax loopholes and steer smarter policies. 🔍💡
South African President Cyril Ramaphosa calls this report 'a blueprint for greater equality.' As the first African nation to hold the G20 presidency, South Africa is pushing this on the global agenda. Are we ready to put equality front and center? 🤔
Stay tuned—inequality isn't just an economic issue; it's a call to action for all of us who believe in democracy. 💪✨
Reference(s):
cgtn.com
