Poverty is falling in Latin America, and so is inequality – a rare cause for celebration in a world otherwise plagued by financial woes – and yet another sign that the balance of global economic power is shifting to emerging economies.
The percentage of those living in poverty in 2010 dropped to 31.4 per cent from 48.4 per cent in 1990, according to a report from the United Nations Economic Commission for Latin America and the Caribbean. This is the lowest rate since experts began collecting data in the 1970s.
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