Poverty Is Rising And Inequality Widening In Asia And The Pacific – OpEd

The Asia-Pacific region, with over 4.8 billion people spread across 58 countries and territories, is home to about 60 percent of the world’s total population of 8.2 billion.

The population of Asia, which include India and China, is expected to continue to grow, reaching 5.3 billion by 2050. However, it is projected to fall in the second half of the century.

A new UN report released October 21 predicts that more than 260 million people in the Asia-Pacific region could be pushed into poverty in the next decade unless governments step up with robust social protection schemes.

The findings inProtecting our Future Today: Social Protection in Asia and the Pacific reportreveal that poverty, both in monetary and non-monetary forms, is rising while inequalities in income and wealth are widening across the region.

The number of people in vulnerable situations in the region is expected to rise, as negative shocks continue to hit amid prevailing inequalities. And access to basic opportunities and services also remains too often a distant goal for many.

Most concerning, 45 per cent of people in the region have no social protection coverage at all. Millions of people living just above the national poverty line are vulnerable to shocks. Without stronger social protection systems, 266 million people could be pushed into poverty in 2040 under a worst-case scenario.

The report was released at the eighth session of theCommittee on Social Development, which brought together senior government officials, top experts and key stakeholders to explore building inclusive and comprehensive social protection systems that are future proof in view of key megatrends including demographic trends, climate change and digitalization.

United Nations Under-Secretary-General and Executive Secretary of Economic and Social Commission for Asia and the Pacific (ESCAP), Armida Salsiah Alisjahbana, said megatrends bring both challenges and opportunities.

“However, we need policy action to maximize the benefits of these megatrends while minimizing their costs,” she said.

“When done right, social protection and inclusive policies with a gender—and disability lens can enhance people’s resilience, facilitate adaptation and reduce the negative impacts of climate change. Acting today rather than tomorrow is not only more cost-effective but also crucial for intergenerational solidarity and ensuring that no one is left behind.”

In his keynote address, Jomo Kwame Sundaram, Senior Adviser, Khazanah Research Institute, said: “A whole of government and a whole of society approach is needed at the national level to resolve the socio-economic and environmental challenges countries of our region are facing especially given the limited resources available for social spending.”

The ESCAP report provides a blueprint on how governments can improve social protection systems across the region.

Leveraging strategic foresight methodology, the report offers policy recommendations to meet changing conditions and argues that the price of inaction today far exceeds the cost of requisite action.

“Recent years have shown us how fragile our progress has been in the region. We have heard how poverty is on the rise for the first time in decades. Unless we build the resilience of our people and planet, we cannot achieve sustained peace and prosperity in the region,” said H Maliki Achmad, Deputy Minister of National Development Planning of Indonesia, who was also elected as Chair of the Committee.

“The recent pledges in the ‘Pact for the Future’made by our fellow nations, underscore our collective resolve, urgency and responsibility to shape a brighter tomorrow for future generations. This is a critical moment for reflection and action. It is time for us, as a region, to assess our progress and determine how we can come together to create a better future,”said Anukul Peedkaew, Permanent Secretary, Ministry of Social Development and Human Security of Thailand.

The Committee will also review social and economic challenges and opportunities associated with slower population growth and related changes in population age structures, as well as strengthening disability-inclusive development