Thailand has overtaken Russia and India as the most unequal country

[Jasper]

 

Thailand has overtaken Russia and India as the most unequal country in the latest survey by a Swiss bank. Banyong Pongpanich, chairman of Phatra Securities, posted on Facebook on Wednesday the findings...

“In 2016, the 1% richest Thais (500,000 people) owned 58.0% of the country’s wealth. In 2018, they controlled 66.9%, overtaking their peers in Russia whose wealth share fell from 78% to 57.1%,” he wrote.

The richest in Turkey also did well this year even though the economy was bad. “The wealthiest people there control 54.1%, outstripping second-ranked India, which fell to the fourth from 58.4% to 51.5% is year,” he wrote.

 

Apart from these four, there are no other countries in the world where the richest 1% controlled more than half of their countries’ wealth. The most equal countries are

Belgium, where the top 1% had 20.1%, followed by Australia (22.4%). At the other end of the scale, the 10% poorest Thais had 0% wealth. Mr Banyong noted if debts are taken into consideration, their net worth might be negative. Meanwhile, 50% of the poorest Thais (25 million people) had 1.7% of the country’s wealth while 70% (35 million) controlled 5%. My Banyong pointed out the Gini index also confirms Thailand’s rankings. It stood at a whopping 90.2, where 100 means one person has it all and 0 means everyone has the same share. To solve the problem, he suggested neoliberalism and welfare to push both growth and wealth distribution.

 

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[vinapu]

nothing surprising and nothing to be proud of, it may turn to be dangerous in the long run specially in country lacking normal avenues to vent frustrations with military in charge and well known stifling laws

[paborn]

The only thing surprising here is that the Russian Oligarchs grip on the economy has slipped a bit. Have they transferred so much out and hidden it that it's no longer possible to assess their real power?

[PeterRS]

There are almost 200 countries in the world. This poll looks at only 20% of them. How then is it possible to state with any degree of accuracy that Thailand is the most unequal country. It isnt! Sure, the spread of wealth is lousy I know. But is it worse than the Congo, Botswana, Nicaragua, Honduras, Syria, Haiti and so on? I doubt it.

[vinapu]

while people are created equal , countries are not,  so perhaps they considered  those who have certain economical and political weight.

 

Possible unrest in Belize, Gambia or Western Samoa will not have much effect on the world scene but those four mentioned in OP are another story.

 

 I'm not disputing it , just genuinely  I'm surprised by mention of Botswana above as she is consider one of better governed African countries 

[PeterRS]

I'm surprised by mention of Botswana above as she is consider one of better governed African countries 

 

 

According to this year's World Bank figures, Botswana has the third worst income distribution figure of 149 countries! Only South Africa and Namibia are worse. Thailand is listed as 69th worst.

 

https://www.npr.org/sections/goatsandsoda/2018/04/02/598864666/the-country-with-the-worlds-worst-inequality-is

[Guest Hutchison]

There are almost 200 countries in the world. This poll looks at only 20% of them. How then is it possible to state with any degree of accuracy that Thailand is the most unequal country. It isnt! Sure, the spread of wealth is lousy I know. But is it worse than the Congo, Botswana, Nicaragua, Honduras, Syria, Haiti and so on? I doubt it.

 

In the Congo, Botswana, etc.. they are more or less all equal.  Equally poor that is.

[spoon]

According to this year's World Bank figures, Botswana has the third worst income distribution figure of 149 countries! Only South Africa and Namibia are worse. Thailand is listed as 69th worst.

 

https://www.npr.org/sections/goatsandsoda/2018/04/02/598864666/the-country-with-the-worlds-worst-inequality-is

This list of 149 countries are using data from as recent as 2015 and as old as 1990. Many have changed between those periods and fair to say its not apple to apple comparison and ranking. The one shown, albeit only 40 countries, are recent data. I guess oy 40 countries willing to share those data for the study.

[paborn]

In the Congo, Botswana, etc.. they are more or less all equal.  Equally poor that is.

Hutch... I see it differently even in the poorest nations there is a tiny group, often vastly rich, who live as if on a different planet.

[vinapu]

Hutch... I see it differently even in the poorest nations there is a tiny group, often vastly rich, who live as if on a different planet.

Unfortunately you are right. And that tiny group manages to suck life out of their countries because our Western countries welcome their ill gotten money with open arms. 

 

I know I sound like illegitimate leftie  son of Rosa Luxembourg but am I wrong? 

[Guest Hutchison]

Hutch... I see it differently even in the poorest nations there is a tiny group, often vastly rich, who live as if on a different planet.

 

And there always will be.