Inequality In Asia And The Pacific
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Inequality in Asia and the Pacific
Asia’s rapid economic growth has led to a significant reduction in extreme poverty, but accompanied by rising inequality. This book deals with three questions: What have been the trends of inequality in Asia and the Pacific? What are the key drivers of rising inequality in the region? How should Asian countries respond to the rising inequality? Technological change, globalization, and market-oriented reform have been the key drivers of Asia’s remarkable growth and poverty reduction, but they have also had significant distribution consequences. These three drivers of growth cannot be hindered because they are the sources of productivity improvement and betterment of quality of life. This book will be useful to those interested in policy options that could be deployed by Asian countries in confronting rising inequality.
Demystifying Rising Inequality in Asia
Income inequality is one of the most profound social, economic, and political challenges of our time. The gap between the rich and the poor has been regarded as a major concern for policy makers. This gap is at its highest level in decades for developed economies, while the inequality trend has been rising in many developing countries. In Asia, despite recent economic growth, income distribution has been worsening as well. This book contributes to the existing literature on inequality in Asia by focusing on three broad themes, corresponding to three parts of the volume. Part I offers an overview of inequality in Asia, Part II focuses on the drivers of rising inequality in Asia, and Part III presents country case studies.
Achieving Inclusive Growth in the Asia Pacific
The world’s developed economies are experiencing a sharp backlash against globalisation, and it appears to be contagious. Will Asia catch it next? Asia has seen spectacular growth in recent decades. It has benefited substantially from global trade, finance, openness and the rules-based international order. But much of the growth Asia has enjoyed has not been shared. It has not been inclusive growth. Inequality in Asia is among the highest in the world. The richest man in Vietnam now earns more in a single day than the poorest person does in a decade. Asia has far to go in making its societies more inclusive to women, ethnic minorities and the LGBT community. How can Asia reduce inequality? What are the forces that determine whether growth in the Asia Pacific is inclusive or not? And what can be done to make Asia’s growth more inclusive in the future? This book brings together the region’s leading thinkers to explore how to change Asia’s trajectory, before it is too late. The Pacific Trade and Development (PAFTAD) conference series has been at the forefront of analysing challenges facing the economies of East Asia and the Pacific since its first meeting in Tokyo in January 1968.