Friday, September 10, 2010

Poverty Rates Have Declined

According to the OECD Observer:
The number of people worldwide living in absolute poverty–the World Bank defines this as people surviving on less than $1.25 a day–has fallen by about half a billion since 1990. China is a major contributor to the decline: its absolute poverty fell from about 60% in 1990 to only around 16% in 2005. India, too, saw some progress, as poverty there fell from 60% to 42%.
The good news is the rapid decrease in the portion of people living in extreme poverty. The bad news is that one out of four of the 6.8 billion people in the world is trying to survive on less than a buck and a quarter per day!

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