Business Daily | by Soromfe Uzomah
One of the great challenges of the 21st Century is the need to reduce poverty levels and economic inequality globally. Economic growth is the most powerful tool for reducing poverty and improving the quality of life in developing countries.
The latest World Bank’s Poverty and Inequality Report finds that, “More equal countries tend to have healthier people, be more economically efficient, and have greater social stability than highly unequal countries. And countries that invest smartly in reducing inequality today are likely to see more sustained economic growth than those that don’t invest. Less inequality can benefit the vast majority of the world’s population.”
However, emerging markets are often defined by marked levels of economic inequality…
