It’s not going to stay this way

For more than a century, a select group of industrialized nations — America, western Europe, Japan — has possessed the lion’s share of the world’s resources.

As the chart, below, demonstrates, 20 percent of the people in the world currently control more than 80 percent of its wealth.

The United States has less than 5 percent of the world’s population but enjoys more than 25 percent of its wealth.

Our president strongly advocates fighting trade wars and taking other measures to keep it that way.

But things are changing, and there’s nothing the “America-first” crowd can do to stop it.

There are nearly 8 billion people on the planet, and they all want the same high quality lifestyles people in the developed world enjoy.

Starting about 35 years ago, China began to embrace market reforms, and its economy has grown at a rapid pace since then. It has raised almost half of its 1.3 billion people out of poverty in recent decades and now has the world’s second largest economy. India is not far behind. It, too, has a rapidly growing economy, and it will soon surpass China in population. Both are advancing technologically. The impact of creating billions more western-style houses, cars, appliances, and lifestyles will alter the planet’s climate with devastating consequences for the human race.

We have to change our ways, but it doesn't necessarily mean sacrifice. Centuries ago, Adam Smith demonstrated that capitalism can create ever-expanding wealth for everyone. And in recent decades, we’ve found that technology and enlightened practices can improve our quality of life and still be sustainable.

But we have to get over the “winlose” mentality our president has fostered. Climate change knows no boundaries. Unless nations cooperate, we all lose.