Asia may need to change priorities to reduce inequalities: ADB

ASIA does not seem to be able to shake off poverty despite the region's highly impressive economic growth record in recent decades and it may need to change its development priorities if income and social inequalities are to be reduced, according to a report by the Asian Development Bank's (ADB) Independent Evaluation Department.

Calling for new approaches to tackle the problem, the ADB said that developing nations of the world in general, including those in Asia, are emphasising the need for inclusive growth without really understanding what the term means.

The report comes as China, India and Thailand launch programmes designed to reduce widening income gaps that threaten to create or exacerbate social tensions as the gap between the rich and the poor widens even in a context of overall economic growth.