It’s a fact, not fiction, that Russia has the highest inequality in the world by the share of wealth top 1% are holding. According to the Global Wealth Report by Credit Suisse Bank, top 1% of the rich own 57% of the country’s assets.
The richest 1%
- According to the 2018 report, Russia is well ahead in the game of unequal distribution of assets and means.
- India, #2 contender, allows the top 1% to own 52% of the country’s wealth. Prosperous Russians own 5% more than that.
- Brazil is the next in the ranking at #3 and 43% of assets owned by the richest 1%.
These 3 BRICS countries are followed by the United States at #4, with 35% of wealth owned by the most affluent.
- China: 33%
- Germany: 29%
- UK: 25%
- Canada: 24%
- Italy: 24%
- France: 22%
- Japan: 18%
The share of the richest has been growing in every country since 2007, except Canada, in the top-10 of this rating.
But for the last two years there has been no further rises, except for a slight ascend in Italy. The report’s experts believe it flattened out, although they are too cautious to say that it’s in a downward trend.
At the same time, money is buying less than before for the low-income Russians. They complain that wages are higher but they are able to purchase less than when they were getting smaller pay checks. Wages are up, but income is down.
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Unfortunately, this is absolutely true. People in Russia feel the inequality and we can only hope that this problems will be solved in due course. The gap between rich and poor is terrific. At least there should be more people which can be reagrded as middle-class.
It is a well-known fact. Everybody sees and understands it. We know how much people earn in small cities and countries, and we can see the level of living of the members of the government, how much some film stars and music stars earn. Feel the difference!