Absolute poverty in East Asia could be largely eliminated by 2020, allowing the world’s most populous region to enter its next stage of development, a panel of experts appointed by the Asian Development Bank (ADB) said Monday.
As Asia develops, the bank also needs to shift its focus from fighting poverty to supporting higher and more inclusive growth, according to [the Eminent Persons 2020 vision for Asia] report prepared by the experts for ADB President Haruhiko Kuroda…
Its current focus of transferring ‘capital surplus’ from rich countries to poor will no longer be central in a region that itself has a capital surplus, the report said.
Dow Jones writes that between 1990 and 2004, the rate of absolute poverty – income of less than $1 a day – declined from 29 percent to 8 percent in developing East Asia, according to the latest World Bank study cited in the report.
Kilde: www.worldbank.org
