The bright story of Asia’s growth has a dark side. The gap between the haves and the have nots in Asia is widening, and there are fears that rising inequality could pose a threat to the region’s future growth prospects.
Asia, once the poorest region in the world, now accounts for one-third of the world’s gross domestic product (GDP). The dramatic growth story is expected to continue and by 2050 Asia could account for more than 50% of global GDP, according to estimates from the Asian Development Bank (ADB).