New Report from Pew Research Center Say’s There May be Little Change in the ‘Global Middle Class’
If you thought that the economic status of the people all around the world was improving rapidly with the advent of technology and improved trade then you might just have mistaken. The wealth gap between the rich and the poor nations still continues to be wide but a 'Global middle class' might just be on the rise.
A recent study showed that the surge in economic growth has remained strong in very few regions of the globe and has failed to give a huge number of people a middle class status.
A recent report from the Pew Research Center called, "A Global Middle Class is More Promise than Reality" shows that although recently there has been quite an improvement at the bottom rung of the economic ladder but only thirteen percent of the population around the world can be classified as "middle class."
Rakesh Kochhar, an author of the report and an associate director for research and an economist at the Pew Research Center said, "If we look at the income distribution of the world population the vast majority is living [on] $2-$4 per day."
Some nations have made better progress than the others. For example, India, which earlier in 2001 had only one percent of its population classified as 'middle class'' has seen the number jump to three percent in about a decade's time. However, it's not heartening news when compared to the fact that an average person in the county lives on a mere income of $3 per day.
New Zealand News
- Tesla offering new discounts & perks in China amid negative press
- Electric Vehicle Council slams Victoria Government for proposed punitive mileage tax on electric cars
- Chinese EV brand Ora unveils VW Beetle-inspired electric car Punk Cat
- Swapping personal car for e-bicycle saved over $50,000 in just 7 years: San Francisco woman
- Hyundai Motor Corp to create ultra-fast EV charging network E-pit in Korea
- Tesla pockets roughly $101 million in profit from sale of some of its bitcoins
- Norway’s ICE car sales decline as buyers making shift to EVs
- Pursang launches Retro-inspired E-Track Motorcycle for Euro 14,449 in Netherlands
- ElectReon successfully tests dynamic wireless EV charging system on public road in Sweden
- Volvo to design special Gothenburg Green City Zone for autonomous & related technologies