The World Bank said on Wednesday that global wealth has grown overall, but it comes at the expense of future prosperity and by exacerbating inequalities.

Relative to Latin America and the Caribbean, LAC, the bank’s new Changing Wealth of Nations 2021 report noted that although total wealth has nearly doubled in the region over the past two decades, there are significant contrasts in the trends of wealth per capita.

“Some countries have more than doubled their wealth since 1995, while in several Caribbean countries, total wealth per capita has declined. Over time, wealth in non-renewable natural capital has begun to decline, due to price volatility, but renewable wealth is increasing,” the report noted.

The World Bank said wealth in protected areas has more than doubled, despite the fact that land area of forests has declined. Female labour force participation is higher than in any other region, but the LAC region has still not reached gender parity in its human capital.

https://jamaica-gleaner.com/article/business/20211029/global-wealth-grows-expense-future-prosperity-world-bank