https://www.scmp.com/rss/322045/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Asia’s rapid expansion has lifted hundreds of millions out of poverty in recent decades, yet the income distribution has worsened, with inequality potentially more severe than in developed economies of the West. This trend is driven largely by the same forces that fuelled Asia’s economic growth: globalisation and technological progress. Increasingly open borders make it easier for businesses to find cheap locations for operations. Meanwhile, new technologies raise demand for skilled workers,... https://www.scmp.com/comment/insight-opinion/article/2120970/asia-must-balance-its-quest-equality-pursuit-growth?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2120970/asia-must-balance-its-quest-equality-pursuit-growth?utm_source=rss_feed Wed, 22 Nov 2017 02:26:33 +0000 In November 1997, South Korea faced a sudden withdrawal of foreign capital, coupled with its financial institutions’ inability to borrow from abroad, depleting the country’s international reserves. The following month, Seoul turned to the International Monetary Fund, and launched painful structural reforms. Millions of jobs were lost and, in 1998, the economy contracted 5.5 per cent. But government-led reforms made progress addressing structural weaknesses, so the economy weathered the 2008... https://www.scmp.com/comment/insight-opinion/article/2113798/north-korean-nuclear-threat-not-only-crisis-south-koreas?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2113798/north-korean-nuclear-threat-not-only-crisis-south-koreas?utm_source=rss_feed Tue, 03 Oct 2017 06:30:00 +0000 Asia is facing a human-capital challenge. Over the past three decades, significant gains in workforce size and quality helped Asia become a hub of global supply chains. But with workers increasingly unable to meet the demands of the labour market, the region’s remarkable development success could be derailed. Asia has plenty of educated young workers. But, at a time of industrial upgrading and technological sophistication, the knowledge and skills gained in school are often insufficient. As a... https://www.scmp.com/comment/insight-opinion/article/1901326/prep-asian-workers-global-labour-market-start-education?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1901326/prep-asian-workers-global-labour-market-start-education?utm_source=rss_feed Fri, 15 Jan 2016 07:46:18 +0000