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Japan:
Second India-Japan strategic dialogue on economic issues
China:
India-Brazil-South Africa to cooperate in health sector
South Korea:
South Korea Gives US Beef The All Clear
India:
Indian government approves re-structured APDRP
Pakistan:
Restoration of Indo-Pak dialogue to push trade
Singapore:
India-Brazil-South Africa to cooperate in health sector
Thailand:
Fastest Growth for Thailand Economy in Six Quarters
Taiwan:
Taiwan Enjoy Expanded Trade Surplus
Indonesia:
Central Bank Chief Of Indonesia Detained
Malaysia:
Malaysia economy grows and banking liberalises
Wealth Gap Increases Throughout Asia
by Stewart DouglasThe wealth gap that separates the richest and poorest citizens in society has increased across Asia, according to a study released today.
The figures measured the difference in income between the top and bottom earning sectors several years ago, and then compared the results with recent findings to track the progress of Asian economies in minimising the rich/poor divide.
The study, prepared by the Asian Development Bank, found that in spite of astronomical growth in the emerging Asian markets, many of the poorest citizens were being left behind whilst the rich elite grew more powerful.
China was highlighted as having the second worst wealth gap issue in the region, behind only Nepal, where inequality was said to have widened more considerably than Asia and indeed the rest of the world.
The Asian Development Bank put the rising inequality down to problems with investment in rural and agricultural areas, leading to increasingly affluent sub-urban environments.
The report highlighted that living standards across the region had improved with economic growth over the past few years, although relative inequality had also grown within all but six of the economies surveyed.
With populations flocking to the cities for employment and wealth, agriculture and rural communities are being forgotten across Asia, resulting in the growing inequities in living standards.
The Asian Development Bank has called for a growing commitment to investment in rural infrastructure across the Asian continent, to further boost growth and create a more equitable society.
This comes on top of the profound social impact of wealth divide, which has led to rising tension between different sectors of society.
The Asian Development Bank further emphasized the importance of making job opportunities available outwith the major industrial centres, to ensure a more balanced economy, and to improve the lives of the workforce.
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