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Showing posts with the label “Gulf countries”

‘Looming Civilisational Crisis’. ‘Looming Invasion’. ‘Win-Win’

“[W]hether demographic, democratic or cultural, the central tropes of the ‘looming crisis’ approach are monolithism—migrants are African for Smith, Muslim for Caldwell, Mexican for Huntington—and scale: the unprecedented numbers that are about to set forth.” Some figures are crucial to dispel myths and misconceptions. “[T]he latest figures for international migrants—defined as those who have been dwelling for at least a year outside their country of birth—is just over a quarter of a billion, or 3.6 per cent of the global population. Around 60 per cent of these are ‘labour migrants’, roughly 20 per cent are people displaced by war, repression or natural disaster, while 6 million are international students. “[O]ver half the cross-border migrants in Europe—44 million, out of a total 87 million—come from other European countries, mainly in Eastern and Southeastern Europe; ‘irregular’ arrivals by land and sea totalled only 189,000 in 2022. “Economic migration has grown and changed, but the ...

Wealth and Tax Havens

“Drawing on newly published macroeconomic statistics, this paper estimates the amount of household wealth owned by each country in offshore tax havens. The equivalent of 10% of world GDP is held in tax havens globally, but this average masks a great deal of heterogeneity—from a few percent of GDP in Scandinavia, to about 15% in Continental Europe, and 60% in Gulf countries and some Latin American economies. We use these estimates to construct revised series of top wealth shares in ten countries, which account for close to half of world GDP. Because offshore wealth is very concentrated at the top, accounting for it increases the top 0.01% wealth share substantially in Europe, even in countries that do not use tax havens extensively. It has considerable effects in Russia, where the vast majority of wealth at the top is held offshore. These results highlight the importance of looking beyond tax and survey data to study wealth accumulation among the very rich in a globalized world.” Macro ...