Finance ministers target Asian wealth gap

[lovuian]

http://feeds.bignewsnetwork.com/?sid=2139e70762015484

The growing gap between rich and poor in Asia tops the agenda at the Asian Development Bank's annual meeting, which opened Friday in Hyderabad, India.

Absolute poverty is declining, but inequality is growing, the bank's president, Haruhiko Kuroda, said in his opening address. Kuroda said that robust economic growth and growing inequality were the two faces of Asia, Kyodo News reported.

The ADB hopes to reduce poverty by strengthening regional cooperation and integration in Asia, where two-thirds of the world's poor live, 1.9 billion of them surviving on less than $2 a day.

Indian Prime Minister Manmohan Singh and Indian Finance Minister P. Chidambaram also addressed the audience of some 2,000 participants at the Hyderabad International Convention Center.
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There will be no Asian Middle class built here to buy things from America...