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.
- An expert reveals that global inequality has reached its highest level since the late 19th century.
- Economist Milanović discovers that global inequality is decreasing despite rising inequality within countries.
- The booming economy of China played a significant role in reducing global inequality.
- The shifting distribution of global income impacts the Western middle class and erodes Western hegemony.