The Rise of Asia’s Middle Class
Every good ex-pat reads the local national newspaper to understand both what is going on in the country and what is important. In yesterday’s Philippine Inquirer, Jong-Wha Lee, the chief economist for the Asian Development Bank, penned an op-ed discussing an alternative way of looking at the problem of poverty in Asia. In the opening paragraphs, he explains the issues: THE MANTRA across developing Asia since the 1960s has been poverty reduction. Huge strides were made during the Asian “miracle.”…