INSUBCONTINENT EXCLUSIVE:
In a world of plenty, a select few hold the reins of wealth
This shift marks a dramatic change in the distribution of global wealth.The report, released ahead of the UN General Assembly, sounds an
It warns of an era of extreme economic inequality that threatens global cooperation.The richest 1% now own more wealth than 95% of humanity
Billionaires Shape World Rules
(Photo Internet reproduction)This disparity highlights the uneven distribution of resources across the globe
Corporate power has also become increasingly concentrated
Two companies now control 40% of the global seed market.Three asset management firms hold nearly one-fifth of all investable assets
to address pressing issues like taxation, health crises, and climate change
During the COVID-19 pandemic, this power imbalance became glaringly apparent.Large pharmaceutical companies resisted attempts to break their
monopolies on vaccine technologies
This resistance hindered efforts to increase vaccine supply and distribution worldwide.Addressing Global InequalitiesOxfam calls for urgent
multilateral action to address these inequalities
They propose a new global framework on taxation and debt cancellation for developing countries.The organization also advocates for rewriting
intellectual property rules for pandemics
It comes as the world grapples with multiple crises.The ongoing effects of the pandemic, wars, and climate change have exacerbated existing
high-income and low-income economies
As world leaders gather for global events, this report serves as a wake-up call
It reminds us of the challenges posed by extreme inequality.The concentration of wealth and power in the hands of a few affects us all
Only by addressing these inequalities can we hope to create a more equitable world
The stakes are high, and the time for action is now.
