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Serious World's 8 Richest Billionaires Richer Than All The Kelings Combined!

JohnTan

Alfrescian (InfP)
Generous Asset
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A new report published by Oxfam, an international charitable organisation whose primary focus is on poverty alleviation, warns that the status of global economic inequality is far more dire than predicted.

More specifically, the report titled An Economy For The 99% estimates that just eight billionaires share the same wealth as that of the 3.6 billion people who make up the poorest half of humanity .

“It is obscene for so much wealth to be held in the hands of so few when 1 in 10 people survive on less than $2 a day,” said Winnie Byanyima, Executive Director of Oxfam International in a statement.

The report, released four years after the World Economic Forum identified rising economic inequality as a major threat to social stability, stacked high ranking names on the Forbes list of billionaires against data from the Credit Suisse Global Wealth Data Book 2016.


Graphiq
“Across the world, people are being left behind,” Byanyima said. “Their wages are stagnating yet corporate bosses take home million dollar bonuses…their voices are ignored as governments sing to the tune of big business and a wealthy elite.”

To highlight the stark discrepancy between the world’s haves and have nots, the charity drew on the dire economic state of several Asian states whose workers, according to the report, are being “squeezed” to assure the wealth of the few.

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Textile workers in Bangladesh earn between $0.13 and $0.45 (USD) an hour, according to reports. (Photo credit: Munir Uz Zaman/AFP/Getty Images).

Among them is India, whose GDP is estimated to be less than the accumulated wealth of the world’s eight richest. In Vietnam, the country's richest man earns more in a day than the poorest person earns in 10 years. More poignantly, the report claims that a Financial Times Stock Exchange 100 CEO earns as much in a year as 10,000 people in working in garment factories in Bangladesh - some of which are being subjected to poor treatment and slavery.

“While many chief executives, who are often paid in shares, have seen their incomes skyrocket, wages for ordinary workers and producers have barely increased, and in some cases have got worse,” the report said.

A report, conducted by Baptist World Aid Australia, claims that India employs almost 17 million workers (as of 2015) in the garment sector. In Bangladesh, the figure is 4.2 million. Monthly minimum wages for the industry in these countries are just $78(USD) and $71(USD) respectively, which equates to roughly $0.45 (USD) per hour.

The Independent Institute paints a bleaker picture. It claims that Bangladesh, at $0.13 (USD) an hour, has one of the smallest hourly rates for garment workers.

On the other side of the globe, according to 2015 statistics from the Department of Labor, the average hourly rate for a textile, apparel, and furnishings workers in the United States is $12.65(USD).

In contrast to both, the average compensation for a CEO of the top 350 US firms in 2013, based on research conducted by Economic Policy Institute, was $15.2 million (USD). Divide that by the accumulated yearly hours of a standard full-time 40-hour work week, and the hourly rate is roughly $7283(USD), pre-tax. This would roughly equate to the hourly rates of 16,000 employees from Bangladesh combined.

Regarding such discrepancies the Oxfam report said:

These trends towards greater inequalities of wealth and income are increasingly hardwired into our economies. Corporations and super-rich individuals both play a key role in driving these disparities…It is simple common sense that having all this money in too few hands is harmful to our society and to our future. It must be more fairly shared.

http://www.forbes.com/sites/millyst...the-backs-of-poor-asian-workers/#583a561d7cf5
 

tanwahtiu

Alfrescian
Loyal
British empire colonized India for 300 years and why is India still poor today? Didn't they bragged of sharing of common wealth in British empire.

This is a fact 300 years of looting, pillage and exploitation of India by the British and today India remains poor. The british had also made India poor for 150 years from opium by the British.

If India was not colonized for this long indians are superpower today in WMD and economy.
 
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griffin

Alfrescian
Loyal
I believe our LEE family must be among the richest in the world. But they are not listed. Are they shy to disclose their wealth?
 

frenchbriefs

Alfrescian (Inf)
Asset
Why do so many people in this world exist even though they are barely able to feed or sustain themselves on their income?this world needs more soylent green and war and pestilence.man needs a natural enemy,we need to introduce xenomorphs like alien (1979).
 

tanwahtiu

Alfrescian
Loyal
No worry it has been taken care of by Jesus the God. British has self extinct by 2050. Their brith rate today is 0.8:1 irreversible.
 

chootchiew

Alfrescian (Inf)
Asset
The kelings should shit and pee together to drown those billionaires. The most is charged with peeing on public.
 
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Jah_rastafar_I

Alfrescian (Inf)
Asset
the funny thing about articles like this is like it's somehow supposed to invoke sympathy all cos it mentions shit skins yet were it Chinese that wouldn't be the case. Let's assume it talked about the poor in China. Now China is obviously much richer than shitskinland obviously. There are also more rich Chinese compared to shit skins yet there are also poor Chinese but the main gist of the problem is somehow Chinese aren't supposed to be victims of racism while shit skins are supposed to always be victims and you are supposed to feel sympathetic to them.

Think about this. You always see whites/Chinese etc helping poor shit skins have you ever seen shit skins helping poor Chinese?

Never.
 

duluxe

Alfrescian
Loyal
British empire colonized India for 300 years and why is India still poor today? Didn't they bragged of sharing of common wealth in British empire.

This is a fact 300 years of looting, pillage and exploitation of India by the British and today India remains poor. The british had also made India poor for 150 years from opium by the British.

If India was not colonized for this long indians are superpower today in WMD and economy.

You hit the nail on the head. Up you!
 
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