write short note on Global Poverty Scenario .
Answers
As studied by World Bank, following are the features of global poverty scenario
(i) The proportion of people in developing countries living in extreme economic poverty defined by the World Bank as living of less than $ 1.25 per day has fallen from 43% in 1990 to 22% in 2008.
(ii) Poverty declined substantially in China and South-East Asian countries as a result of rapid economic growth and massive investment in human resource development.
(iii) In the countries of South Asia, the decline has not been as rapid.
(iv) In Sub-Saharan Africa, poverty in fact decline from 51% in 1981 to 47% in 2008.
(v) In Latin America, the ratio of poverty remained the same.
(vi) Poverty has also resurfaced in some of the former socialist countries like Russia, where officially it was non-existent earlier.
The state of global poverty states that is:
- There has been a significant reduction in global poverty, but there is a significant regional difference.
- Poverty is declining in China and in Southeast Asia due to rapid economic growth and significant investment in human resource development.
- In Latin America the proportion of poverty remained the same.
- The number of people in developing countries living in extreme poverty described by the World Bank as living below $ 1.25 a day has dropped from 43% in 1990 to 22% in 2008.
- Although there has been a significant reduction in poverty worldwide, it is notable for the region's significant diversity.