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The table below is for 2008, 2018, 2019 and 2021.The GDP data is based on data from the World Bank. [3] The population data is based on data from the UN. [4] The Wealth Gini coefficients from 2008 are based on a working paper published by the National Bureau of Economic Research.
The greatest cases of inequity typically would involve an impoverished and politically unstable country neighbouring a resource-rich and relatively stable one, although neither may be recognised as a high-income economy. As an extreme example, the GDP per capita for Saudi Arabia, is over 42 times greater to that of its neighbour Yemen.
Particularly common to compare a given percentile to the median, as in the first chart here; compare seven-number summary, which summarizes a distribution by certain percentiles. While such ratios do not represent the overall level of inequality in the population as a whole, they provide measures of the shape of income distribution.
This article originally appeared on GOBankingRates.com: 7 Major Differences Between Rich and Poor People, According To Money Expert Humphrey Yang. Show comments. Advertisement. Advertisement.
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Definitions of the poverty line vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations. Even among rich nations, the standards differ greatly. Thus, the numbers are not comparable among countries. Even when nations do use the same method, some issues may remain. [10]
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And for the group of people in between the bottom 50% and top 1%—mostly the lower- and middle-income groups in North America and Europe—income growth has been either sluggish or flat." [ 16 ] The WIR 2018 shows that, "The gap between rich and poor has increased in nearly every region in the world over the past few decades."