The West is poorer and ‘it’s very good news,’ says top inequality researcher: ‘There is no reason why for 2 centuries, people from the West should’ve been at the top’
According to Branko Milanović, global inequality has improved with the growth of China's economy. However, this has resulted in reduced purchasing power for many individuals in the lower and middle-income brackets in the West. This situation could potentially lead to social disruption and increased income polarization within Western societies.