Also listen to a World Bank staffer in the field tell stories of how small, often conflict-prone Pacific islands navigate the waters of reform and the Doing Business rankings.
East Asia and Pacific
Why does China receive so much foreign direct investment (FDI) if its formal institutions are so poorly developed by international standards?
Almost 25 years of data from over 500 household surveys in 100 countries were used to estimate absolute poverty measures – a constant, real value between countries and between urban and rural areas - in the developing world.
Since 1997, East Asia's aggregate output doubled to $5 billion and more than 200 million people transcended the $2 a day poverty line. Looking ahead, 9 out of 10 Asians may be living in a middle income economy by the end of the decade.
In an op-ed (subscription required), Nicholas Kristof places his bet:
You see up-and-coming cities like Hyderabad or Ahmedabad, and it’s easy to believe that India will eventually surpass China. But here in rural Bihar state in northern India, there’s no economic miracle to be seen.