“Deglobalization’ is the way to reduce inequality” says Pablo Solon former ambassador of Bolivia to the UN.
- The race of globalization is leaving the majority of the world’s population far behind. According to UNICEF, the richest 20% of the population gets 83%of global income, while the poorest quintile has just 1%. This trend is getting worse. A new UNDP report called “Humanity Divided” estimates that 75% of the world’s population lives in societies where income distribution is less equal now than it was in the 1990s, although global GDP ballooned in that time from $US 22 trillion to 72 trillion.For developing economies in Asia, the Gini coefficient – which measures income inequality on a scale from zero to one where one is worst – rose from 0.33 in 1990 to 0.46 in 2010.Inequality corresponds with high social tensions and political instability – with the