Development Asia magazine probes region's rising inequality
MANILA, Philippines: The future prosperity of the Asia-Pacific region
is threatened by a deepening divide between rich and poor, according to
the latest issue of Development Asia magazine, which examines in a
series of articles the causes and consequences of rising inequality and
options for governments to close income gaps.
In an interview with Development Asia, India's Finance Minister P.
Chidambaram discussed India's progress on curbing inequality by
promoting inclusive economic growth and by providing better access to
jobs, education and health services.
"To meet the rising expectations of the people, we have to meet the
basic needs of people," Chidambaram told Development Asia.
Gaps are growing as Asia grows wealthier. In the past two decades in
Asia, the Gini-coefficient, the most common measure of inequality, has
risen sharply from 39 to 46. While other regions have had similar
problems, Asia has been less successful in reversing the trend.
Also in this issue, economist Justin Yifu Lin explains how a renewed
commitment to market reforms would reduce inequality in the People's
Republic of China.
It also reveals Cambodia's struggle to curb child mortality, a tragic
symptom of inequality. The cover package also shows how some Asian
countries have managed to sidestep inequality.
Development Asia, the Asian Development Bank's (ADB) biannual
magazine on human and economic development in Asia and the Pacific,
takes a fresh look at development issues in the region.