Rising Inequality Threatens Southeast Asia's Growth
A recent report by Oxfam highlights the issues of rising inequality and crony capitalism in Southeast Asia.
According to the report, "An Unequal Future: Asia's Struggle for Justice in a Warming, Wired World", weak taxation policies and governance gaps are reinforcing wealth imbalances and diverting resources from public spending.
- The richest 10% of Asians took between 60-77% of national income.
- The poorest half received only 12-15% of national income.
- In 2023, the top 10% captured:
- 58% of income in India
- 52% in Thailand
- 46% in Indonesia
- 43% in both Vietnam and China
The richest 1% hold 40.1% of national wealth in India and 31.4% in China.
Author's summary: Inequality threatens Southeast Asia's growth.
More News
- Disney Ended Doctor Who Partnership for These 3 Reasons
- Eala falls to Mboko to exit Hong Kong Open
- Why Israel Lost the Gaza Opinion War
- US passport support in Apple Wallet is a hugely important step
- Threads Rolling Out Two New Features in iPhone App
- Animal Crossing: New Horizons Gets a Free Update and Switch 2 Edition
- Bail Crackdown on Ballot Ignores Mental Health Crisis, Advocates Say
- How Discrimination and Stress Impact the Mental Health of Young Sexual Minority Men
- Boomers, your star sign says this nostalgic TV show is basically your life - MediaFeed
- CNN announces election night coverage plans, including All Access-only ‘livecast’