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Wealth Gaps Pose Growing Risk In Asia, Former Senior Diplomat

Friday, May 22, 2009

TOKYO (Nikkei)--Asian countries must address widening income gaps if they want to engineer quick recoveries and promote development, Kazuo Ogoura, president of the Japan Foundation, said at an economic forum here Friday.

Wealth disparities in one country cannot be solved by other governments, Ogoura told the Future of Asia conference.

However, he said that if such problems destabilize a society, such as China, for example, they could spill over to affect other Asian economies. Ogoura warned that widening income gaps thus pose political risks across Asia.

Titles of speakers, names of companies, etc., were correct as of the time when the forum was held.