Rich man, poor man

Rich man, poor man

Manmohan Singh came under a fair bit of fire after his 24 May speech at a CII meeting, when he warned of rising inequality.

The Prime Minister now has a lot of company, some of it unexpected. China’s Communist Party is now in session at its five-yearly congress. Here, President Hu Jintao has said the party must try to bridge the growing divide between the rich and the poor.

Last week, new US tax data showed that inequality in America was perhaps at its highest since the Roaring Twenties. Even President George Bush had to admit that this was a problem. In an interview to The Wall Street Journal, he said some top corporate salaries are excessive.

Meanwhile, IMF has devoted a special section in its semi-annual publication, World Economic Outlook, to the problem of global inequality.

Are the political winds shifting?

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