KUALA LUMPUR, Feb. 5 -- Malaysia has the highest rate of income inequality among peers nearing high-income status, with inter-ethnic disparity being the biggest contributor despite the widely-held belief that wage gaps between races are bigger, according to the World Bank's latest report released this morning.
So what explains Malaysia's income inequality patterns?
The Bank said despite pro-poor growth, income is still highly concentrated at the top.
While income has grown more rapidly for the poor and for people in the middle of the income distribution, but because they started from a low base, absolute gaps remain.
As of 2022, the bottom 20 per cent of people in Malaysia held less than 6 per cent of income, up from just 4.6 per cent i...