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There are many more Chinese than Americans, so, just as income inequality within particularly the advanced countries has tended to worsen, income inequality between countries and in the world as a whole has been improving. Inequality, as measured by the ratio of the income of the top 10% to the bottom 90%, has tended to worsen within most countries, as has wealth inequality. This is recorded in much more detail in Chapter 7.
The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival
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