The world’s billionaires will be making their fortune at the end of the year as they set their sights on another global milestone.
In the coming weeks, they will mark the 70th anniversary of the first International Monetary Fund (IMF) meeting.
The IMF’s first meeting was held in the US in November 1945, and its first publication was the first of a series of guidelines for the IMF to follow.
Its success led to the creation of the International Monetary and Financial Policy (IMFS) in the early 1970s, which set out the IMF’s mandate for the next two decades.
The meeting was a watershed moment for the international financial system and the global economy, but it was also the beginning of a long decline in the world’s wealth inequality.
In 2015, the IMF reported its first global wealth loss of $3.2 trillion.
It reported a $2.3 trillion drop in global economic output in the second quarter of 2016.
It was followed by a $1.8 trillion drop for the first quarter of 2017, a $5.2 billion drop for June and a $3 billion drop in September.
But it’s the gap between the richest and the poorest in the countries of the world, that is set to worsen as the global economic recovery takes hold.
Over the past decade, the world has witnessed a global trend towards inequality.
While the wealth of the richest has increased, the share of the poorest has fallen from 51 per cent to 37 per cent.
In other words, the wealth inequality is growing more quickly than ever before, which is a stark contrast to the prosperity that developed countries enjoyed at the turn of the century.
What causes the disparity?
There are several factors that contribute to the rise of inequality.
For example, the number of billionaires has increased from zero in 1950 to 1,926 in 2015.
It has been estimated that between the 1960s and 2000, the US alone lost around $50 billion in value due to rising inequality.
According to the World Bank, the biggest contributor to the decline in global wealth was the deregulation of financial services that occurred in the 1990s and early 2000s.
A recent study by the Center for Economic and Policy Research (CEPR) showed that in the years since the global financial crisis, the gap in wealth between the wealthiest and the poor has grown from 0.3 to 0.8 per cent, with the gap widening further in the following years.
At the same time, as the rich gained wealth and became richer, the poorest countries, including most of the developing world, were left worse off.
The poorest countries are increasingly suffering from malnutrition, malnutrition, food insecurity and poor governance.
According to the OECD, in 2016, the richest one per cent of the population controlled around three times as much wealth as the poorest 50 per cent combined.
This has caused a massive drop in the standard of living of the poor in the developing and middle-income countries.
“In terms of inequality, we’ve lost some of the gains in growth we made in the last 40 years and that is a big problem,” said Paul Collier, Director of the Centre for Global Development, an independent think tank.
Collier said the rise in wealth inequality has been exacerbated by the rise and fall of the global commodity markets, which have been driven by the financial crisis.
There is a tendency to assume that the rise or fall in a currency will bring with it an increase in the amount of wealth.
But when you look at the history of the commodity markets it has been the opposite, and in fact it has worsened the situation.
The decline in commodity prices in recent years has had a much greater impact on the economy than on the overall economy, which has experienced the same decline in growth.
However, the rise has been slow.
Collier said that since 2000, commodities prices have been rising, but the rate of growth of the economy has slowed.
He said that the slowdown was partly due to a lack of foreign direct investment in the sector.
He said the IMF was now preparing for a new boom in the commodity sector, which could result in a boost in global income for the rich, but would also cause a massive blow to the poor.
While it’s difficult to predict what the future holds, Collier told the Financial Times that he thought the gap could be closed by 2020, but warned that there would be a lot of political and social turmoil.
“We’re in a situation where it is very hard to be sure,” he said.
“The global system is not working.
What I see as the big question is how long will the rich get to enjoy this enormous increase in wealth, and the rest of us get to suffer?”