‘1 billion out of 6 billion own 80 percent of global GDP’
KARACHI, March 28 2006: The world today is highly imbalanced as of the six billion people, only one billion own 80 percent of the global gross domestic product (GDP), while another billion struggle to survive on less than one dollar a day.
This is less than the subsidy given to cows by the European Union (EU), said acting President of Szabist Dr Javaid R. Laghari, while speaking at the third graduation ceremony of the institute here.
In today’s scenario, he said, rich countries spent only 56 billion dollars on development assistance, but spent 600 billion dollars only on defence.
Source: Business Recorder