According to the "World Inequality Report 2026," global inequality remains at an "extreme" level, with just under 60,000 billionaires, or the top 0.001%, now controlling three times the wealth of the poorest 50% of the population.

The study, written by more than 200 researchers and published on Wednesday, states that this disparity is reflected across all categories, as the top 10% of the world's population now own nearly three-quarters of the world's wealth, while the poorest half of the population owns only 2% of the wealth.

Income is distributed in a similar way. The income of the top 10% exceeds the total of the remaining 90%, while the income of the poorest half is less than one-tenth of global income. "The result is that a tiny minority holds unprecedented financial power, while billions are even excluded from basic economic stability," it said.

According to the study, the gender pay gap "exists in all regions," with women accounting for just a little over a quarter of global labor income, a proportion that has barely changed since 1990.

The report says that global disparities are evident even before people enter the job market. The average public spending per student in sub-Saharan Africa is about $230 per year, compared to $8,600 in Europe, and $10,500 in North America and Oceania, a ratio of more than 40:1.

Raising funds from the top can narrow this gap. A 3% global tax on the less than one-hundredth of the population who are millionaires and billionaires would generate about $750 billion in annual revenue, roughly equivalent to the total education budgets of middle- and low-income countries.

The study shows that poorer countries are squeezed by a global financial system tilted towards wealthy nations. Developed economies can borrow cheaply and earn higher returns abroad, allowing them to operate as "financial rentiers." The report concludes that approximately 1% of global GDP flows from poorer countries to richer ones each year through debt repayments, profit repatriations, and other capital flows, which is three times the amount of global development aid.

Original article: toutiao.com/article/1851203150453767/

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