The article is about the widening rich-poor divide that is
threating Asia’s growth and stability. The article says that governments and address
the problem by spending more on education and health, creating quality jobs and
investing in infrastructure. This could
reduce social problems that can lead to inefficient populous policies. The recent growth in Asia should have brought
240 million people (6.5% of the population) out of poverty. Instead inequality grew larger as economic growth
took off. This year Asia is set to grow
slower than last year. Income in the
Richest house-holds has increased with 20% of the total income taken by the wealthiest
5% In most of the region. The article
points out that the growth has been from technological progress, globalization,
and market-oriented reform, which are the same factors that created the divide
between the rich and poor. The poor
people that don’t have access to learn these skills will not take part in the
economic growth.
This what’s happening here in the article seems to be a
trend that is happening in several other countries. Income inequality is rising because the rich
are getting richer and the poor are not getting and richer. It’s as though the poor pour are locked out
of this circle of prosperity. I think
the article puts out a good solution with improving education and investing in infrastructure
as long as this extra spending in education will go to the poor and to those
that don’t have access to learn the skills that are valued now and where the
growth is coming from. The growth as a
country as a whole is great and makes the Global income inequality seem likes
its going down however it’s not a real reduction in Inequality because the
shrinking in global inequality is matched with a gain of inequality in those
countries that are shrinking the global inequality. The world is become more divided as a whole
as other rich people in countries are getting richer and the poor are staying
poor.
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