Elucidate the global poverty trend.
There has been substantial reduction in global poverty, but it is marked with great regional differences
- According to World Bank report, the proportion of people in developing countries are living in extreme economic poverty.
- Poverty declined in China and South East Asian countries as a result of rapid economic growth and huge investments in the development of human resources.
- In the countries of South Asia i.e., India, Pakistan, Sri Lanka, Nepal, Bangladesh, Bhutan, the decline of poverty has not been rapid.
- In sub-saharan Africa, poverty saw an upward trend due to successive droughts and underdevelopment.
- Poverty has again surfaced in some of the former socialist countries like Russia, where formerly it was non-existent.