Latest News:  
Beijing   Sunny    30 / 16 ℃  City Forecast


Inclusive growth, inequality are key concerns in emerging Asia

By Prime Sarmiento (Xinhua)

15:34, May 02, 2012

MANILA, May 2 (Xinhua) -- The Asian Development Bank opens this year's annual meeting in the Philippine capital with a call to promote more inclusive growth in emerging Asian economies.

ADB President Haruhiko Kuroda said Wednesday that despite the region's stellar economic rise - the developing Asian economies are projected to expand 6.9 percent this year - millions of Asians continue to subsist on less than 1.25 U.S. dollars a day.

"The region still faces significant long-term challenges. High among these is the issue of rising inequality," Kuroda said in a briefing held on the sidelines of the four-day 45th Annual Meeting of Board of Governors.

He highlighted the parallels between relatively higher growth among member countries in Asia-Pacific on one hand and the rising incidence of poverty and income inequality in the region on the other.

The region is home to some of the world's fastest growing economies and rising prosperity has managed to reduce huge poverty levels.

According to the UN Millennium Development Goals Report for 2011, East Asia, particularly China, have made the sharpest reduction in poverty incidence thanks mainly to its rapid economic growth. In China, the poverty rate is expected to fall to under 5 percent by 2015.

Another rising Asian economy, India, has also slashed its poverty rate. India's poverty rates are projected to fall from 51 percent in 1990 to about 22 percent in 2015.

【1】 【2】 【3】


Leave your comment0 comments

  1. Name


Selections for you

  1. International Twins Festival celebrated

  2. May Day demonstrations worldwide

  3. Alleged Taobao scandal stirs sensation

  4. A visit to "the last Shangri-La"

Most Popular


  1. EU commissioner looks to increase investment
  2. Commodities trading a hurdle for global yuan use
  3. Relations reach new heights
  4. China opposes Philippine school in S. China Sea
  5. Top adviser's visit promotes friendship, cooperation
  6. Where does the world go from here?
  7. Panicky responses to shootings harm students
  8. ChiNext delisting policies ramp up risk for investors
  9. Motives behind Tokyo's claim to buy Diaoyu Islands
  10. Huangyan crisis hints long-term tensions

What's happening in China

More efforts to expand imports for balanced trade

  1. Road toll transparency
  2. Economist who leaked secret data sentenced
  3. Mysterious hanging coffins in SW China
  4. Chinese scientists turn kitchen waste into fuel
  5. Laid-off worker creates million yuan business

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai