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Economy

Asia Pacific's rich-poor gap widens fastest in China, Indonesia

Economic growth less effective in curbing poverty than in past decades

A fruit vendor sets up his stall near a luxury shopping mall in Jakarta.   © Reuters

JAKARTA -- One stereotype of Asian cities such as Jakarta and Manila is a stark juxtaposition between sprawling slums and gleaming shopping malls stocked with luxury goods -- an image with some accuracy, going by a new World Bank report.

About 250 million people live in slums across the East Asia-Pacific region, which does not include India, the report found, even as the number of billionaires rose 30% per year from 2002 to 2014.

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