Data shows that inequality has increased over the last decade with an increasing number of rich people in the global one per cent who have generated more wealth, while extreme poverty has halved.
Extreme poverty measured by the World Bank as those living on less than $1.90 per day has halved over the past decade
Statistics from the World Bank and World Poverty Clock show that rates of extreme poverty have been halved over the past ten years, from 15.7% in 2010 to 7.7% now.
They also show extreme poverty in China has almost been entirely eradicated.
The number of people living on less than $1.90 per day, which is the World Bank’s threshold for ‘extreme poverty’, in areas including South Asia and Latin America have fallen dramatically, according to the data.
The trend does not hold true in sub-Saharan Africa, however, where overall poverty rates have risen to higher than a decade ago, partially due to a rapidly-growing population.