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Poverty, Inequality and Economic Growth in Asia
The landscape of aid has changed dramatically in the past 10 years.
- Asia has cut the number of extreme poor by 430 million from 2005 to 2010 but it remains home to two thirds of the world's poor.
- Four fifths of the region's population live in countries with rising inequality.
- Treating developing Asia as a single unit, its Gini coefficient - the most common measure of inequality - has worsened from 39 to 46 in the past 2 decades.
- If inequality had remained stable over the past 20 years in countries where it has risen, another 240 million more people could have escaped poverty.
- The south has been growing fast, accounting for 45% of world GDP in 2010, up from about 28% in 1990.
- Southern regions' share of total world trade more than doubled from 7% to 17% between 1990 and 2009.
- Developing Asia accounts for about 75% of south-south trade, with the PRC alone accounting for about 40%.
- Duties imposed on south-south traded goods are significantly higher than those on goods traded between southern and northern regions.
- The average size of aid funding has been cut in half over the past 10 years.
- There are over 4,000 bilateral development programs in developing countries but half of them amount to less than 5% of total aid flows.
- Inefficiencies from fragmented donor programs may cost as much as $5 billion annually.
- Republic of Korea rose from 3rd world to developed status in a decade supported by global development assistance and is now a donor to its neighbors.
- At the Busan aid effectiveness forum in 2011, participants agreed to develop formal targets for measuring aid commitments by June 2012.