What does the rise of large developing countries mean for development?
In converging countries Since 1990, the number of people in the world living on less than a dollar-a-day has fallen by over one quarter – approximately 500 million. So far, however, these reductions have mainly been concentrated in one country – China. Other countries have made progress but at a pace insufficient to counter the effect of population growth. Poverty reduction still represents a major challenge for the developing world. Inequality in many rapidly growing developing economies has also been increasing. “Thanks to the rapid growth rates in emerging economies, their governments can now afford to boost public spending on social protection. This is a powerful tool to reduce inequality.” said Angel Gurría, Secretary-General of the OECD (read the full speech). “Investing in social infrastructure may also contribute to diminish the propensity to save of these economies, contributing to a more balanced global economy.” he added. In poor and struggling countries Due to their rapid g
Related Questions
- Does the WTO put trade ahead of economic development, and ignore other problems of developing countries?
- Is the economic development of developing countries more important than protecting the environment?
- Why is economic development of developing countries more important than protection of environment?
