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
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 RatePoverty Rate (890 million1.1 billionIncome 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.
Source link : https://capital-cities.info/2024/10/14/asia/new-un-report-unveils-alarming-rise-in-poverty-and-inequality-across-asia-and-the-pacific/
Author : Jean-Pierre Challot
Publish date : 2024-10-14 07:06:48
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