Inequality Comes to Asia
As income inequality becomes increasingly entrenched, it can undermine social cohesion and spur political instability. To avoid such an outcome, Asian countries need to change the rules of the game, providing opportunities for youth, regardless of their background, to ascend the income ladder.
SEOUL – From China to India, Asian countries’ rapid economic expansion has lifted hundreds of millions of people out of poverty in recent decades. Yet the income distribution has lately worsened, with inequality now potentially even more severe in Asia than in the developed economies of the West.