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Maggy
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RICH-POOR GAP WIDENING
May 15, 2007 - 04:40 AM
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CULTURE & SOCIETY RICH-POOR GAP WIDENING IN VIETNAM
(From the VIETNAM NEWS BRIEFS, May 14, 2007)
Disparity between the poor and
the rich in Vietnam is expanding, said a workshop entitled "Updates on
Poverty Rates 2006", recently held by the Vietnamese Academy of Social
Sciences and World Bank (WB)
The report said the ratio of per capita expenditures of the richest in
Vietnam compared with the poorest rose to 6.3 in 2004, from 5.0 in 1993
The average purchasing rate of the richest increased to 44.7% from 41.8%
of the total during the same period, while the rate in poorest group fell
from 8.4% to 7.1%
According to UNDP, income disparity between the rich and the poor, or Gino
ratio, of Vietnam stays at 36.2, ranking the third after China (40.3) and
Russia (45.6)
Currently, as Vietnam sees economic growth; the poor only take 76.6% of
the gains, while the rich enjoy 115%
Per capita income in rural areas was 2.15 times less than in urban areas,
or $23.6 a month compared with $60. The disparity of the richest area in
the South was 3.13 times higher than the poorest in the North, according
to the General Statistic Department source
Also in the report, the national poverty rate in 2004 was 19.5% with more
than 16 million people living below the level of $0.3 a day; 10-20 times
lower than state employees. The International Monetary Fund (IMF) experts
compare Vietnam's current situation with Thailand and the Philippines two
decades ago
These two countries invested about 30-40% of GDP to reach growth of 12%
while Vietnam poured up to 60% GDP but annual growth speed remains at a
modest 6-7%
State-owned enterprises are blamed for this issue and the widening gap
between the poor and the rich, due to corruption under government
subsidies. To narrow the gap, the workshop points out four solutions
focusing on rapid change of investment direction in private-owned firms;
managing adjustments in hunger elimination and poverty reduction programs;
anti-corruption campaign; and job creation in rural areas. Truong Gia
Binh, general director of FPT Corp, is named the richest man in Vietnam
with VND2.4 trillion or $150 million, a recent Vnexpress survey showed
(Light Magazine May 5 p43, 44, 45) Copyright 2007 Vietnam News Briefs
What about others?
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Prince Charles Jiduwah
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Re: RICH-POOR GAP WIDENING
May 15, 2007 - 11:00 AM
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This is how funny the world we live in today is. More needs to be done to for Paradigm to shift in that area.
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Maggy
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Re: RICH-POOR GAP WIDENING
May 18, 2007 - 11:04 AM
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The more developed our country is, the longer this gap is.
This post was edited on: 2007-05-18 at 11:06 AM by: hiendao
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Anu maheshwari
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Re: RICH-POOR GAP WIDENING
May 18, 2007 - 02:58 PM
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This thread is being moved to the Work and Economics Forum
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EconRams24
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Re: RICH-POOR GAP WIDENING
June 7, 2007 - 09:30 AM
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There definitly is a growing gap in our economy between the haves and the have-nots, but what can be done to change this? How can we prevent this when it seems in our economy that wealth breeds more wealth and getting from the bottom to the top seems a very difficult task?
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espoir
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Re: RICH-POOR GAP WIDENING
June 10, 2007 - 01:02 PM
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Something governments can do that has been enacted in certain countries is welfare. In welfare systems, the poor usually receives a lot more than the rich, which can to some extent level up the gap some. Essentially, though, it is somewhat like taking the from the rich and giving to the poor, which causes the wealthy populace to complain. In developing countries, free education and community resources for all may also alleviate the situation. This gives the poor children an opportunity that measures closer to the rich children, and they have a greater chance to strive at a better future. The status quo itself is hard to eliminate, but things could still be done to scale down the gap between different classes of society and bring different closer people together as one union.
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Connie Wokuri
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Re: RICH-POOR GAP WIDENING
July 10, 2007 - 05:39 AM
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With the growth in economy,more people should be stable financially bt,it's actually sad to note that the growth in economy has a negative impact on ordinary Kenyan.What should be done to reduce this gap because year after year it keeps widening.
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Chelsea
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Re: RICH-POOR GAP WIDENING
July 23, 2007 - 01:46 PM
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It's sad to hear this because more coountries are having the problem of the gap widening between the rich and the poor. Isn't it the governments fault for letting this happen??
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prieten47
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Re: RICH-POOR GAP WIDENING
July 24, 2007 - 12:16 AM
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chelsea0lam wrote:
It's sad to hear this because more coountries are having the problem of the gap widening between the rich and the poor. Isn't it the governments fault for letting this happen??
At the risk of sounding insensitive to this problem, I think we should keep certain things in mind:
There has always been rich and poor people at all times in the world's history and in all economic systems. Even under communism the party elites lived much more comfortable lives than most of the citizens.
Can everyone in the world be rich? Obviously not. The trick is to achieve enough development agriculturally and industrially to the point where most people can live a modestly comfortable life. I think income differences are an important incentive to reward those in society who take risks to further themselves and, indirectly, society.
Who are these risktakers? Well, it can be anyone who gives up some current comfort in order to achieve a bigger future comfort. Anyone who gets a university education is forgoing current consumption for future consumption. Anyone who invests their time and money in some project is doing the same and should be rewarded in the future.
History is littered with failed attempts at "equalizing" people's wealth. Invariably, these attempts involved taking money/property from the rich and giving it to the poor. The rich either disappeared or left the country, but mysteriously, the poor did not get richer, in many cases they got even poorer!
Rather than lament widening gaps between poor and rich, I think a country should be judged on the quality of life it gives the majority of its citizens.
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Rajesh
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Re: RICH-POOR GAP WIDENING
July 24, 2007 - 03:04 PM
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The widening gap is not between rich and poor country but also we can see within the country between rich and poor people.
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Shawn S.
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Re: RICH-POOR GAP WIDENING
July 24, 2007 - 04:19 PM
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rjerung wrote:
The widening gap is not between rich and poor country but also we can see within the country between rich and poor people.
I have seen this in statistics as well...
Also, I think what's very important is comparative poverty (quality of life) than actual poverty.
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Norbert
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Re: RICH-POOR GAP WIDENING
August 2, 2007 - 06:21 PM
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This gap will keep widening unless there is a change in perceptions, policies in developing countries.
i may ask what causes some countries to be rich or poor?
rich countries are not born like that but they have struggled to make this happen, several examples are there, you can see how South korea, Singapore are economically growing!!!!!!it's amazing!!!!!!.
although the Keynes theory doesn't fully explain or can solely explain the economic growth of a country, but at least it gives us a way to forecast or predict what will happen '' production is a function of investment and this is available only when the public and private sectors save the money to be invested.
so here, you can see how some countries will remain poor because, instead of saving, goverment are increasing their expenditures in military equipments due to senseless wars, or people are living the every day life without saving for the future.
so, what i'm trying to say'' i don't see how our countries will leave the poverty unless we let a deep changes in our mind happen and for our government to look for a better future for the coming generation, because most of those funds affect to buy weapons or i don't,..... are credits and our children have to pay. but also those rich countries have to remove barriers so that to allow our countries to grow fast.
But the thing is'' no one will do this for us''
so brothers and sisters, we have a challenging task.
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prieten47
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Re: RICH-POOR GAP WIDENING
August 2, 2007 - 10:05 PM
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tuyivic wrote:
...but also those rich countries have to remove barriers so that to allow our countries to grow fast.
But the thing is'' no one will do this for us''
so brothers and sisters, we have a challenging task.
You are right. The recent negotiations called the Doha Round were a shameful example of the rich countries refusal to compromise on agricultural imports from poorer countries. The rich countries rather protect their small number of farmers than give developing countries new markets for their products.
I have read a little about the small coffee growers in Rwanda who are making excellent quality coffee, but having a hard time breaking into the international coffee markets.
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Shawn S.
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Re: RICH-POOR GAP WIDENING
August 2, 2007 - 11:58 PM
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For an interesting read on how some countries became rich while others became poor, I highly, highly suggest the book Guns, Germs and Steel. One of the most informative books I've ever read.
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gzusbmine
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Re: RICH-POOR GAP WIDENING
August 19, 2007 - 05:13 PM
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Here is link to organization who promotes that IMF/World Bank are one of the guilty organizations increasing poverty across the world.
http://www.50years.org/action/s26/factsheet2.html
It might be interesting to investigate further...
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