The world has become relatively less poor in the last few decades. People under conditions of extreme poverty -- that is, living on less than $1.25 per day -- have declined as a proportion of the world population, from 52 percent in 1981 to 22 percent in 2008. Thirty years ago almost 75 percent of the developing world lived with $2 a day or less, this number is down to 43 percent today.
South Asia has been one of the world’s success stories in terms of rapid economic growth. With India leading the way, South Asia’s poverty rate has fallen from 60 percent in 1981 to 40 percent in 2005. However, during the same period, the number of poor people—those living on less than $1.25 per day—actually increased from 549 million to 595 million over the same period.
After all is said and done, this crisis had its genesis in US and European countries living beyond their means. This was reflected in large current account deficit which was financed by emerging economies of China, Russia, Brazil, Korea and others.
By Dr. Jayanta Roy
by Ejaz Ghani
China and India are both racing ahead economically. But the manner in which they are growing is dramatically different. Whereas China is a formidable exporter of manufactured goods, India has acquired a global reputation for exporting modern services. Indeed, India has leapfrogged over the manufacturing sector, going straight from agriculture into services.
On Monday, the world marked International Women’s Day. As a husband and father of strong, wonderful women, I am always very much aware of the occasion.
We already blogged about the Development Marketplace Grant Competition that could fund your innovative idea for climate adaptation.
Two other Regional Development Marketplace competitions are now accepting proposals:
This one-week Internet course is targeted specifically at trade practitioners in small or medium South Asian countries (Afghanistan, Nepal, Bhutan, Bangladesh, Sri-Lanka, Pakistan, and Maldives). Its goal is to provide useful insights and better understanding of trade facilitation, transit, and logistics constraints preventing optimal export diversification in those countries.