Who are the winners and losers of globalization?
Slow income growth among the middle class of rich countries like the U.S., Japan and Germany is widely attributed to globalization. A lack of upward mobility has been frustrating for many, leading to an increase of political populism on both sides of the spectrum. Former World Bank economist Branko Milanovic has created the “elephant chart,” which answers the question: Who are the winners and losers of globalization?
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