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income gaps

Greater inequality within UK and USA than some developing countries, trade ‘footprint’ shows

The United States and United Kingdom have even more inegalitarian domestic economies than many of the countries they trade with. Fifty-eight per cent of the nations that Australia's consumption depends on have greater internal equality than Australia. Nine per cent of countries we trade with have more egalitarian economies. This counters the overall trend of developed countries having more egalitarian domestic economies than those they trade with. Russia, however, despite high inequality within its border, in 2010 had the lowest inequality footprint in the world because approximately 62 percent of its international trade was with Europe and the Commonwealth of Independent States, where inequality is low. Commodities producing countries tend also to produce inequality. Globalisation does not have a positive effect on inequality.

Greater inequality within UK and USA than some developing countries, trade ‘footprint’ shows

The United States and United Kingdom have even more inegalitarian domestic economies than many of the countries they trade with. Fifty-eight per cent of the nations that Australia's consumption depends on have greater internal equality than Australia. Nine per cent of countries we trade with have more egalitarian economies. This counters the overall trend of developed countries having more egalitarian domestic economies than those they trade with. Russia, however, despite high inequality within its border, in 2010 had the lowest inequality footprint in the world because approximately 62 percent of its international trade was with Europe and the Commonwealth of Independent States, where inequality is low. Commodities producing countries tend also to produce inequality. Globalisation does not have a positive effect on inequality. The findings come from the first ever ‘inequality footprint’ of nations, created by researchers at the University of Sydney, demonstrating the link that each country’s domestic economic activity has to income distribution elsewhere in the world.
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