“Third, uneven global development makes it difficult to meet people’s expectations for better lives. Dr. Schwab has observed in his book The Fourth Industrial Revolution that this round of industrial revolution will produce extensive and far-reaching impacts such as growing inequality, particularly the possible widening gap between return on capital and return on labor. The richest one percent of the world’s population owns more wealth than the remaining 99 percent. Inequality in income distribution and uneven development of space are worrying. Over 700 million people in the world are still living in extreme poverty. For many families, having warm houses, enough food, and secure jobs is still a distant dream. This is the biggest challenge facing the world today. It is also what is behind the social turmoil in some countries.”

Keynote Speech by H.E. Xi Jinping, Opening Session Of the World Economic Forum