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Economy

Asia wages grow nearly 10 times faster than in world's richest nations

While still lagging, worker pay in region catching up to advanced G-20 countries

Rush hour in Jakarta. Wages in emerging economies, such as G-20 member Indonesia, are expanding in tandem with the country's recent 5% average economic growth. (Photo by Simon Roughneen)

JAKARTA -- Wages in Asia grew by an average of 3.5% last year, nearly ten times faster than the 0.4% increase seen among the wealthiest members of the Group of 20 countries, whose leaders will meet in Argentina later this week.

Driven largely by Asian economies and China in particular, wages in the G-20's emerging or developing economies -- including Indonesia and India -- have tripled overall in the two decades since the Asian financial crisis, according to a new report by the International Labour Organization.

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