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The annual Credit Suisse Global Economic Report, which is the most comprehensive and up-to-date source of information on global household wealth, has been released. Unlike other studies, this report measures and analyzes trends in wealth across nations from the very base of the “wealth pyramid” to ultra-high net worth individuals. The methodology is robust, established over many years of analysis, and completely transparent with regard to the underlying sources and their quality. This year for the first time, the report focuses primarily on wealth inequality and the trend toward increasing amounts of wealth being held by fewer households. This world-wide trend is resulting in a shrinking middle class in almost every nation and is contributing to social instability in both developing and Western societies.
Here are a few of the findings:
This summary was compiled by Michael Simms.
A worker produces toys at a factory in northern China. [Photo: Time Magazine]