Inflation pushed 71 million people into poverty since war in Ukraine began
PBS NewsHourAUG 2022
While eliminating poverty in developing Asia may seem like a lofty goal, unprecedented economic growth has led to significant progress. COVID hurt everyone globally, especially vulnerable people in developing Asia, but prospects are looking up. China’s reopening and stabilization of supply chains will allow growth to continue, creating a better economy for the entire continent.
Tens of millions of people continue to live in poverty in developing Asia, as the economic growth across the region is sporadic. Inflation is the key culprit, as economically vulnerable people can’t afford the rising cost of living, healthcare, and education. There may be some positives in Asia’s recovery from the pandemic, but social safety nets for the poor are yet to be strengthened to get the region back on track.