Economic success, not widespread poverty, poses the newest threat to Asian development, the president of the Asian Development Bank warned Sunday.
Environmental degradation, rising inequality and an over-stretched infrastructure are quickly supplanting older concerns like hunger and disease as the region rapidly expands, ADB President Haruhiko Kuroda said. All of the trends can be linked to the breakneck pace at which Asia has become a global economic powerhouse.
To solve the problems, the ADB must shift its focus from simple poverty alleviation to economic growth rooted in tapping the region's vast savings reserves, promoting regional integration and spurring job growth, he said.
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