what is the global poverty scenario?
According to World Bank’s report, the proportion of poor people in developing countries living under extreme economic poverty has reduced to 21% in 2001 from 28% in 1990.
The decline of poverty has been sharp in some countries. For example, poverty has declined to a considerable extent in China and other Southeast Asian countries. This is due to the fast economic growth and investment which has been done in human resource management.
While there has been a considerable decline in poverty in China, other Southeast Asian countries such as India, Sri Lanka, Pakistan and Bhutan have not experienced a significant decline in poverty levels as experienced by China.
In Sub-Saharan Africa, poverty has increased from 41% in 1981 to 46% in 2001. Poverty levels have increased significantly in Nigeria. Poverty has appeared in a country like Russia where it was non-existent earlier. In Latin America, the poverty ratio has remained constant.
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