Globalisation has widened the disparity between rich and poor and as a result, 20 per cent of the world controls 80 per cent of the gross domestic product, while 447 billionaires have wealth greater than the income of the bottom half of humanity, according to Ms Velma Veloria, State Representative, Washington and Head of Joint Legislative Oversight Committee on International Trade Agreements (JLOCITA). She said that three richest people in the world had greater combined net wealth than 48 poorest countries' national income combined.