East Asia and Pacific remains the world’s growth engine despite a challenging external environment, with developing economies growing by 7.2% in 2013. The proportion of people living in poverty in the region has steadily declined—less than 10% of the population lives on $1.25 a day—but much more needs to be done as there are still close to half a billion people living on $2 a day.
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China can save a total $1.4 trillion (15% of last year's GDP) if it builds more efficient, denser cities. A new World Bank-China joint report recommends using those savings to expand social services to all people—including migrants.Read More »