Inequality The UN remains committed to the existing timeline of the Sustainable Development Goals (SDGs) to end global poverty in all its forms and to reduce inequality within every country by 2030. Reducing income inequality in society must become a key strategy to eradicate extreme poverty by 2030. Global poverty can be brought down to about 3% of the world's population by 2030 if an average annual global economic growth rate of nearly 10% in GDP per capita is achieved, and if income inequality is reduced by half. If the 2.5% GDP per capita growth rate in the least-developed countries in the past ten years is maintained during the decade of action, income inequality would need to be reduced by 75% to eradicate extreme poverty by 2030. An additional 130 million people may live in extreme poverty by 2030, presenting a major setback for the Sustainable Development Goals, which aim to eliminate poverty and improve other health and inequality measures by the end of the decade. Without access to cooling technology, unmitigated warming may reduce average global income by 23% by 2100 and widen global inequality. Rising economic inequality in the United States has become a central issue in the race for the Democratic presidential nomination, and discussions about policy interventions that might help address it are likely to remain at the forefront in the 2020 general election. If the distributions of income, means-tested transfers, and federal taxes follow CBO's projections, income inequality will be greater in 2021 than it was in 2016. High growth over the past decade has been based on unsustainable resource exploitation; addressing the resulting growth in inequality and environmental cost will be critical to ensure social stability and to ensure strong sustainable growth in the coming decade. As income inequality between countries remains high, differences in average incomes remain a major driver for migration By 2030: As a result of war and destruction affecting countries unevenly the current pattern will have changed dramatically. America's pluto-populist president is peddling a tax plan that will further increase economic inequality at a time when income and wealth gaps are already widening. A failure to give the world's poorest women control over their bodies could widen inequality in developing countries and thwart progress towards global goals aimed at ending poverty by 2030. Globalisation, global inequality, climate change and technological innovation will affect the lives of everyone on the planet. Stagnant wages and growing inequality have made Australia more unequal and have placed the country's "traditional egalitarianism" at risk. A new report predicts the United States will see its levels of economic inequality increase due to the uneven geographical effects of climate change. Facilitating more widespread technology adoption within low and middle-income countries will be key response to reduce extreme poverty and prevent global inequality from rising. Achieving the 17 Sustainable Development Goals - which include clean water, clean energy, sustainable cities, climate action, responsible consumption, reduced inequality and more - could open a market opportunity of $12 trillion by 2030. The next decades offer an opportunity to address African urban poverty and inequality and shape development priorities to ensure that urbanisation helps foster well-functioning, liveable and sustainable cities. Leadership might require companies to take positions and advocate for change on global inequality - including in-work poverty. In Africa and in the LDCs, eradicating poverty by 2030 will require both double-digit GDP growth and dramatic declines in inequality, illustrating the scale of the current challenges faced. The combination of increasing economic inequality and declining social mobility threatens the equality of opportunity at the core of the American dream. The global economy is in distress: Economists warn of another two decades of declining productivity, slow growth, steep unemployment, and increasing inequality. See full forecast Last updated: 09 August 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
