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New UN Report Unveils Alarming Rise in Poverty and Inequality Across Asia and the Pacific

by Miles Cooper
October 14, 2024
in ASIA
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Table of Contents

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  • Addressing Poverty ‍in the⁣ Asia-Pacific: A ⁤Call for Enhanced Social Protection
    • Urgent Need for Action to Prevent a‍ Poverty Surge
    • Comprehensive Social Protection: A Path Forward
    • What statistics illustrate the‌ rise in income‌ inequality in Asia and the Pacific?
  • New UN Report Unveils ‍Alarming Rise ⁢in⁣ Poverty​ and Inequality Across ⁣Asia and the Pacific
    • Overview of the UN Report
    • Key Findings of the ⁤Report
    • Causes of Rising Poverty and Inequality
      • Economic Factors
    • Collaborative ⁤Approaches at ‍National ⁣Levels
      • Looking Ahead: A Focus on Challenges & Opportunities⁤

Addressing Poverty ‍in the⁣ Asia-Pacific: A ⁤Call for Enhanced Social Protection

Urgent Need for Action to Prevent a‍ Poverty Surge

A recent report from‌ the United Nations warns that over 260 million individuals in the Asia-Pacific area may fall⁤ into poverty within the next decade if governments do not implement robust social protection⁢ measures.​ The study, entitled Safeguarding Our Future​ Now: Social Protection Across Asia and ‌the Pacific, indicates ​a troubling trend where both monetary and non-monetary poverty ⁢is increasing, exacerbating existing income and ⁣wealth disparities throughout the region.

The report ⁤highlights that millions are vulnerable to economic shocks, as inequalities continue to ⁣persist, leaving many⁣ without essential opportunities and ⁢services. Alarmingly, 45% of people in ⁣this region lack any ​form​ of social protection coverage. Those living slightly above the poverty threshold remain at risk;⁤ projections suggest that by 2040, under bleak circumstances without significant ⁤intervention, an additional 266 million could be⁤ plunged into poverty.

Comprehensive Social Protection: A Path Forward

This crucial ‌report was unveiled‍ during the eighth session⁣ of the Committee on Social Development which commenced ‌today. The​ event unites prominent government officials and ⁣experts focused on crafting inclusive social protection frameworks capable of withstanding key megatrends such as‌ demographic shifts, climate change impacts, and digital advancements.

Armida Salsiah⁤ Alisjahbana, Under-Secretary-General of the UN and Executive Secretary ⁣for​ ESCAP (Economic ‌and Social Commission for Asia-Pacific), emphasized​ that while megatrends can⁣ pose challenges they also present new opportunities. ‌“We must pursue policy measures that maximize ⁢these benefits⁣ while⁤ reducing their adverse effects,” she stated.

She‌ further remarked⁢ on how effective social protections—particularly ‍those considering gender equity ⁣and disability accessibility—can bolster community resilience against climate ⁤change impacts. “Prompt action is ‍vital—not just economically sound but also crucial for fostering ⁢solidarity across generations,” she⁢ added.

What statistics illustrate the‌ rise in income‌ inequality in Asia and the Pacific?

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New UN Report Unveils Alarming Rise in Poverty and Inequality Across Asia and the⁣ Pacific

New UN Report Unveils ‍Alarming Rise ⁢in⁣ Poverty​ and Inequality Across ⁣Asia and the Pacific

Overview of the UN Report

The UN report released recently highlights a concerning trend in the ⁤Asia and Pacific region, revealing a significant ‍increase in both poverty⁢ and inequality. This ⁣report asserts that millions are facing economic hardship due to ⁣various ⁢interconnected factors.

Key Findings of the ⁤Report

  • Poverty Rates: The report estimates that about 1.1 billion people in the region are living on less than $3.20 a⁣ day, marking an alarming rise⁤ since previous assessments.
  • Inequality: Income‌ disparity has‍ reached record levels, with the richest 10% of the population‍ earning more than the bottom 40% combined.
  • Impact of COVID-19: The pandemic⁢ exacerbated existing inequalities and reversed ​years ⁣of economic progress​ for vulnerable⁢ populations.
Indicator2020 Rate2022 Rate
Poverty Rate (<$3.20/day)890 million1.1⁤ billion
Income Inequality ​(Top 10% vs Bottom 40%)12 times15 times

Causes of Rising Poverty and Inequality

Economic Factors

Several economic factors⁤ contribute to the ⁣alarming rise in⁣ poverty and ⁣inequality in Asia and the Pacific:

  • Job Losses: ⁢The

    Collaborative ⁤Approaches at ‍National ⁣Levels

    During his keynote speech, ​Jomo⁤ Kwame Sundaram from ‍Khazanah Research Institute articulated that addressing socio-economic issues demands a unified⁢ approach involving all ⁣sectors within nations facing ⁤resource limitations dedicated to social initiatives.

    The ESCAP’s findings⁣ offer essential ⁢strategies aimed at enhancing local government ⁣structures related to social support systems nationwide. Utilizing strategic foresight methodologies presents ⁢tailored policy advice necessary to navigate evolving societal challenges effectively; thus emphasizing that neglecting immediate action could⁤ lead to far⁢ more costly⁣ consequences down the ‍road.

    “Current events have illustrated​ how ⁢fragile our advances are; ​we witness an uptick ‌in poverty ​levels after decades of⁣ decline,” ⁢observed​ H.E⁤ Maliki Achmad from Indonesia’s National ‌Development‍ Planning Ministry who chairs this ⁣committee meeting. He insisted on building resilience amongst people while caring for our environment as fundamental steps toward achieving lasting peace and ⁣prosperity within this region.

    H.E Anukul Peedkaew from Thailand highlighted​ recent commitments made under ‌’Pact for a Brighter Future’, ⁢stressing their⁤ joint accountability towards ‌cultivating improved living ‍standards for forthcoming ‍generations during this⁤ salient phase demanding ⁤both reflection on progress achieved thus far⁣ along​ with immediate actionable steps⁤ involving regional cooperation.

    Looking Ahead: A Focus on Challenges & Opportunities⁤

    Over three days ​ahead during this bi-annual gathering commitment will ⁣also delve deep into various​ socio-economic⁢ hurdles linked with slowing population growth trends alongside age demographic alterations—including ramping up efforts towards inclusive disability development ⁣strategies‍ vital amid ‌broader future concerns surrounding equitable progress⁤ across affected communities ⁤throughout ‌Asia-Pacific zones.

    Tags: AsiaCapitalCitiesInequalityJeanPierreChallotPacificPovertyUN Report
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