Overview
- Led by Nobel laureate Joseph Stiglitz, the G20 Extraordinary Committee says extreme inequality threatens democracy, economic stability and climate progress.
- In India, the richest 1% increased their wealth by 62% between 2000 and 2023, compared with 54% for China’s top percentile.
- The richest 1% expanded their share of wealth in more than half of countries, encompassing about 74% of the world’s population.
- Since 2020, global poverty reduction has stalled or reversed, with 2.3 billion facing moderate or severe food insecurity and 1.3 billion impoverished by out-of-pocket health spending.
- The report proposes an International Panel on Inequality under South Africa’s G20 Presidency to deliver authoritative data and policy guidance.