Lauder recently hosted its annual Globalization TrendLab and this year’s focus was on reducing poverty and inequality.
“Poverty and inequality around the world have evolved in disparate ways over the last two decades. The number of people living below the poverty line has been cut in half, primarily due to robust growth in the emerging economies. Meanwhile, poverty is on the rise in both Europe and the United States, especially among children. While inequality across countries is on the decline,inequality within countries has grown in both the developed and the developing world,with the notable exception of Latin America. In developed countries, deindustrialization, lower levels of unionization, declining wage shares of national income and the financialization of the economy are largely responsible for the increase in inequality. In developing and emerging economies,unbalanced growth between the cities and the countryside, and within urban and rural areas,is mainly behind the trend. As a result, a rising global middle class of consumers, centered in China and India, is developing, although in most countries the uppermost segment of the income distribution is also growing relative to the rest.”
Want to learn more? Read the full report of the findings.