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.
The report, which deep dived into the evolution of inequality and mobility in Malaysia over the last two decades and into the post-Covid era, bucked previous studies that only focused on ethnic gaps or regional disparity.
The Bank said the latest study emphasises that a great extent of inequality occurs within these groups, and highlights the intersection of ethnicity and location as a salient marker of inequality.
"Nationally, the...