G7 to Tackle Wealth Divide
G7 to Tackle Wealth Divide

G7 to Tackle Wealth Divide

G7 to Tackle Wealth Divide

Finance ministers and central bank governors of the Group of Seven industrialized countries agreed to make efforts to close economic gaps in their countries during their meeting that ended late Saturday in Bari, Italy, Yonhap reported. The decision was made because failing to address the gap between rich and poor could increase discontent among voters, leading to an unstable political situation as well as negative effects on the world economy. Each G7 country plans to use fiscal spending and structural reforms to improve the economic gap, but the possibility exists that the United States, which has taken the approach of prioritizing its own interests, could derail concerted action among the G7 countries. Globalization has rapidly accelerated since the 1990s, causing the gap between rich and poor to continue to widen. The Gini coefficients of G7 nations, a measure of the degree of income gaps, have reached their highest levels since the mid-1980s, according to the Organization for Economic Cooperation and Development.


Short URL : https://goo.gl/D2lj2Q
  1. https://goo.gl/fqMHYK
  • https://goo.gl/XadB1Q
  • https://goo.gl/aSOKP7
  • https://goo.gl/5E50yI
  • https://goo.gl/jfVoo9

You can also read ...

World GDP is expected to advance 3.5% in 2017—its best year since 2011—and 3.7% in 2018.
Nearly 10 years after the financial crisis brought the global...
Supporters of EU-Mercosur Free-Trade Pact Push for Deal
Supporters of a free trade pact between the EU and the...
The OECD believes that tax evasions cost governments around the world as much as $240 billion a year in lost revenue.
They have revolutionized the way people live, but are US tech...
Kuwait Needs $100b Over 5 Years to Cover Deficit
Kuwait will need $100 billion of additional financing over the...
Emmanuel Macron (L), French Labor Minister Muriel Penicaud (C) and Jean-Claude Juncker.
The EU is trying to present itself as more socially just,...
China to Help Shortfalls in Pension Funds
China on Saturday announced a pilot program to help pension...
Few Signs of Progress in NAFTA Talks
Negotiations in Mexico to update NAFTA have not made much...
Goldman Predicts Four Rate Hikes in US
The US economy is heading into 2018 with strong momentum that’...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.