The gaps in household income and wealth between the richest and poorest households are at historically high levels, as income and wealth have increasingly accrued to the very richest households.
Emerging markets and developing countries are expected to fare slightly better with real GDP growth projected at about 3 per cent, much of which will come from China and India. Note, however, that in the case of China, real growth is coming down from an average of 11-12 per cent over the past few years to 8 per cent in 2009.