Across Mexico, where gentrification has pushed housing prices up by 247% from 2005 to 2021, locals are angry over their forced displacement and lack of housing rights. They recently protested against mass tourism and “digital nomads.”
Tag: wealth
Some of Colombia’s wealthiest families prefer to move abroad, with their money, following a custom of the super-rich in many places. They should remember, the homeland they spurn gave them all the opportunities to become rich.
The daily spectacle of Donald Trump and his minions striking at institutions and backstabbing allies may be depressing, but the United States is more than that. Once the fever subsides, that vibrant, inclusive country will recall that greatness does not rest on meanness, thuggery or wealth.
In the Middle East and North Africa, divisions are as stark as they can be. War-torn nations stand side-by-side with wealthy oil-rich countries where the elites feel disconnected from the rest of the region. But, as Yemeni freelance journalist and a human rights defender Afrah Nasser, warns, these inequalities breed monsters, and wealth will not prevent oil-rich countries from experiencing chaos and destruction.
Cuba is approaching a state of economic collapse and has turned to the UN for food assistance for the first time in its history. While Havana blames the U.S. embargo for its economic woes, the reality is quite the opposite.
The reforms introduced by Bola Tinubu, the new president of Africa’s most populous country, will take time to have an effect on the daily lives of Nigerians. In the meantime, the population is suffering from inflation, corruption and insecurity. The disillusioned youth are impatient and dream of elsewhere.
The West and its brand of modernity may be waning in favor of an ascendant China, but is it offering anything besides replacing market forces with brute force.
Oligarchs of the ‘Second Gilded Age’ in the like of Elon Musk are already able to influence the public’s minds through media ownership. But getting a hand on Twitter means having access to its users’ data and exploiting it for financial purposes.
Faced with a $32 billion drop in their wealth this year, Russian oligarchs are looking for assets to allow them to overcome sanctions that will increase with the invasion of Ukraine. Familiar with crises, they see bitcoin and other cryptocurrencies as an escape from the hegemony of the dollar, and a way to diversify their holdings.
A source of major concern for investors and the economic and political elite, Peru’s freshly-inaugurated leftist president is now trying to make nice. What happens next, though, is anybody’s guess.
After the topic of bulk sanitary napkins went viral online, the broader issue of the gap between rich and poor has come out of the shadows across the communist nation, including the availability of laptops for students.
The super rich are buying residency papers and passports from places like Cyprus and Vanuatu to be able to travel — despite quarantines — for health reasons, business or pleasure.
Men do not do their fair share of housework and childcare. And companies still discriminate against female employees. And it’s not looking any better for the digital economy.
If societies really want to tackle inequality, they’ll need to do more than just improve access to new technologies.
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What If Warren Buffett Were Peruvian?
In the race to succeed, talent can certainly play a role. But not everyone competes on the same playing field.
With its abundant raw materials and growing digital economy, Latin America has real potential for national investment funds.
Monopolistic companies may be near a tipping point where people (and governments) want them reigned in.
-OpEd- MADRID — Since September 2015, when the UN General Assembly launched its 2030 Agenda — a plan to reach 17 Sustainable Development Goals (SDGs) within 15 years — the concepts have been gaining momentum worldwide. The ultimate purpose of the SDGs is to eradicate poverty, and slowly but surely, people are realizing their importance […]
-Analysis- BEIJING — The “invisible poor” has become a new online — and ironic — moniker in China. It describes young people who earn more than 10,000 RMB ($1,570) a month, a considerable income for most Chinese, but who are also big spenders. They wear $500 suits, get regular facials, drink top-class Chilean wine, and […]
Climate change is already affecting people’s lives, even as some may try to deny it. If nothing is done to curtail it, the impact will be much more pronounced in the coming years and decades, not only for certain communities — in low-lying coastal areas, for example — but for entire regions. Fast forward to […]
Financial advice from computers could help private investors make more rational, efficient and profitable decisions. But even if a human element is irreplaceable, the humans in the industry must adapt.
A book published recently by French writer Pascal Bruckner cuts to pieces the taboo of money in French society. For him, it’s one of the barriers French needlessly impose on themselves.
A disproportionately high number of China’s so-called “super-rich” came from real estate. It’s the first clue about what’s wrong with Chinese wealth accumulation.
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Buffalo Status
In southern Indonesia’s Torajan villages, water buffalo horns are displayed on the houses’ facades as a mark of social standing.
Demonizing the rich, a pastime of Colombia’s political Left, doesn’t help social progress. Yes, the rich must pay a high share of taxes, but capital and opportunity cross borders like never before.
MUNICH — At some point Hanna Seibert (not her real name) just started making excuses. When her girlfriends called and wanted to go out to eat and drink cocktails in the city, she would put them off, saying she had too much to do. The cliché excuses suggesting she was stressed out struck her career-minded […]
A visit to Tzahala, a tony district on the edge of Tel Aviv, where a canine unit and dozens of cameras have been brought in to fight crime. But at what price?
Step inside the diamond market in Surat, where billions worth of the precious stone circulate every month. There are serious concerns about both security and origins.
After a nearly 10 percent jump in obesity, the first efforts have been launched at educating Congolese about both diet and exercise. But skinny to many means sick — and poor.
-Analysis- BEIJING – Zhang Lan, founder of restaurant chain South Beauty, is one of China’s richest women and a symbol of the country’s booming economic success. Thus it is not surprising that the recent news that the billionaire has renounced her Chinese citizenship to take on a foreign nationality has been met with some significant […]
CHINA TIMES (Taiwan), STOCK MARKET TREND WEEKLY (China), CNBC (USA) Worldcrunch BEIJING – The ranking of the world’s richest man has stayed relatively stable. There have been only three individuals who made it there in the past ten years – Bill Gates, Warren Buffett and the Mexican telecoms tycoon Carlos Slim. Over the same period […]
MOSCOW – “At the time of transition, there were hopes that Russia would transform itself into a high-skilled, high-income economy with strong social protection programs inherited from the Soviet Union era…” So starts the Credit Suisse report on Russia as part of its 2012 Global Wealth Report. According to the bank’s experts, since 2000 the […]
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Why Living Rich Is Costing More And More
PARIS – The price of luxury products is skyrocketing. The quasi-hypnotic appeal of some brands and the increasing number of extremely wealthy clients throughout the world is enabling luxury brands to hike prices to stratospheric levels year after year. A pair of John Lobb shoes, a Kelly Hermès bag, a kilo of Petrossian Sevruga caviar, […]
LE FIGARO, LIBERATION, EUROPE 1, AFP, FRANCE 24 (France) Worldcrunch PARIS – French newspapers are tracking tax exiles after Bernard Arnault, France’s richest man and head of luxury good giant LVMH, said Sunday he was seeking Belgian nationality. The luxury tycoon’s move to seek Belgian citizenship has caused outrage in a country hit by a […]