INEQUALITY AND THE
TOP 1% IN THE UNITED
STATES VS CHINA
By: Izayah King, Lucas Gustas, Lyneth
Mendoza and Orlando Santos
WHAT IS THE TOP WHAT IS
1%? INEQUALITY?
Refers to the population of the world
that are among the top 1% wealthiest,
The distribution of economic
measured by annual income or net
worth.
variables among individuals in a
group, among populations in a
According to The Wealth Report in population, or among nations is
2022: referred to as economic inequality.
233,590 of the top 1% live in North The majority of development
America economic theories focus has been
169,889 live in Asia on disparities in living standards,
154,008 live in Eutrope including disparities in wealth,
24,245 live in Australia education, health, and nutrition.
10,337 live in Latin America
9,717 live in the Middle East
6,542 live in Russia
2,2440 live in Africa
TOP 1% IN US INEQUALITY IN US
The top one percent in the US
depends on a couple factors which The United States has a larger income
are location and how much income and wealth disparity than almost any
you make per year. other developed nation, and this
inequality is growing. Racial disparities
The location is something to be in wealth and earnings are significant,
considered because living costs and which many analysts ascribe to the
population changes how much you nation's history of slavery and racist
need to make on average to be able economic practices.
to live in that state. For example in
Connecticut to be in the top one
percent you need to make about
900,000$ annually compare to West
Virginia where to be considered the
top one percent you only need to
make 350,000$ annually.
TOP 1% IN INEQUALITY IN
CHINA CHINA
The top 1% in China has been on the While China has seen a rapid increase in
rise for the past 2 decades. We have economic growth over the past 2
seen a big increase in the median decades, income inequality has
salary for China as it used to be sitting drastically increased over the same time
at around $9,000 around a decade ago period. Alot of the inequality has to do
but is at $50,000 today. with location within the country and
family size. Healthcare is also a major
The top 1% of China takes around issue as the poor are not able to pay for
$150,000 to be a part of. This threshold it. There is also issues with China's
of the top 1% holds 33% of all money in education system as the more rich and
the country. This is due to the fact that affluent families will be able to have their
China has 700 billionaires and a lot of kids receive higher level and better
the 1% pulling in millions annualy. education than the poorer and lower
class families.
COMPARISONS BETWEEN THE TWO
COUNTRIES
Although the United States has been economically developed longer than China has,
there are clearly some similarities between the two countries when it comes to
inequality. For example, in both countries, those who have more money are more
likely to have a better education. However, there is a difference between the salary
you need to make in order to become part of the top 1% in the United States versus
China. This is due to the fact that the standard of the United States as of 2020 was
$2112 while in China it's $758.
CONCLUSION
There are some similarities and differences with inequality in certain countries. The
top 1% is very diverse in the fact that the amount of money they have is not going to
be equally the same in differing countries, and even in defferring states. As the world
continues to grow economically, there may be changes as to where the top 1% will be,
or if the top 1% will grow even more.