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Income gap in Asia threats stability

Rappler.com

Asia’s rapid growth in the last two decades has lifted over 700 million out of poverty, but millions are left behind. The widening gap between rich and poor threatens this growth as well as its stability, says an Asian Development Outlook 2012 of the Asian Development Bank released Wednesday, April 11. “Inequality can weaken the basis of growth itself. High and rising inequality can curb medium-term growth by reducing social cohesion, undermining the quality of governance, and increasing pressure for inefficient populist policies,” the report warned.

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