China has one of the most economies in the world right now. It has made extraordinary progress in reducing absolute poverty over the last 20 years but it also an economy where income inequality is growing the fastest. The paradox is resolved by looking at the growth of the highest incomes in China which has been explosive. China is creating more millionaires and billionaires than any other country. Whether the Chinese people care more about absolute or relative poverty is something we will likely learn in the next few years.
One country that is not experiencing such robust growth is Greece, and the situation there is getting desperate. Because of fears concerning the Greek economy, people are pulling their money out of Greek banks, and the decline in deposits has been precipitous. Given the rapid rate of withdrawal, it is not at all clear that Greek banks will be able to survive.
Tomorrow Nigerians will vote in their Presidential election. Current President Goodluck Jonathan and former President Muhammadu Buhari. It is a hotly contested race and the stakes are quite high for Nigeria and the world. Nigeria is a critically important country in the global economy, but it has failed to reach its full potential, largely because of poor governance and the inordinate influence of outside powers in its internal affairs. Elections in Nigeria have often been accompanied by violence; let’s hope that that pattern does not recur this time around.
World Politics News 
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