Sunday December 16, 2018

India Houses more than 30 Percent of Extremely Poor Children: Here is Why Poverty is the Deadliest Disease of all!

Poverty is a disease eating its way through this world and the ones most affected by it are children

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Destitute children on the streets. Representational image. Wikimedia
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November 10, 2016: The children of a nation are its future. But what happens when the children are not secure or their lives are not fulfilled with the basic necessities for a healthy survival?

Poverty is a disease eating its way through this world and the ones most affected by it are children. Poverty robs the people of their rights. These children fail to experience a good beginning in their lives and the stress of the poverty on them at such a young age leaves scar, which can last a lifetime. This leads to absence of basic skills that one needs to survive in the world today. This leads to a stunted growth in the economy as the full potential of the human population is never utilized.

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Comprehending the problem is a leap towards solving it. The children struck with poverty are affected in all spheres of their lives. The lack of proper nutrition or sanitation affects their health which is reflected in their education and lifestyle.

According to UNICEF, based on statistics from 89 countries comprising of about 84 percent of the developing parts of the world, 385 million children were members of critically poor households in 2013.

The Sub-Saharan Africa houses just under 49 per cent of the world’s extremely poor and just over 51 per cent of the world’s extremely poor children. South Asia comes right after it with around 35.7 percent, out of which approximately 30.3 percent belong to India.

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In 2013, 9.2 percent of adults were living in poverty in developing nations, whereas 19.5 percent of the children were living under similar conditions. The younger the children are, the more they are vulnerable to the consequences of poverty, as they need more nurturing and care than before.

81.4 per cent of the poor children belong to rural areas. This number is gigantic compared to the meagre 18.6 per cent residing in the urban areas.

“Despite being one of the fastest growing economies in the world, malnutrition is rampant in India. Four out of 10 stunted children globally are Indian, more than in sub-Saharan Africa” says a Reuters report and according to UNICEF, about 50 per cent of children under the age of 5, around 54 million have a stunted development in India.

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Child labourer
Child labor in India. Wikimedia

Poverty leads the children into lives so dark we cannot begin to comprehend. They become victims of violence, trafficking, prostitution, child labor and many other forms of evil. In 2004-05, around 2.3 percent of the children, aged 5 to 14, had fallen prey to child labor in India and 2.4 percent in the urban areas during 2007-08.

Such poverty not only limits the possibilities for the current generation but also brings down the entire community the children live in. Investment in the early stages of the lives of the children can make a huge difference. Improving services for sanitation, schools, health care can improve the lifestyle of the children and help break the vicious cycle of poverty.

– by Shivam Thaker of NewsGram. Twitter: @Shivam_Thaker

 

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China’s Economy Slows As It Tries to Diffuse Trade War With U.S.A.

The impact on China’s economy from the Sino-U.S. trade frictions are not apparent yet, Mao cautioned, adding that the nation will face more “external” uncertainties in 2019.

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A woman cleans the window at a Aston Martin luxury car dealership in Beijing, Dec. 12, 2018. Auto sales have fallen sharply in China. VOA

China’s November retail sales grew at their weakest pace since 2003 and industrial output rose the least in nearly three years as domestic demand softened further, underlining rising risks to the economy as China works to defuse a trade dispute with the United States.

The world’s second-largest economy has been loosing momentum in recent quarters as a multi-year government campaign to curb shadow lending put increasing financial strains on companies in a blow to production and investment.

The slowdown in Chinese industries has started to weigh on consumer sentiment this year, tapping the brakes on retail sales. Big-ticket items have been the first to be hit, with auto sales declining since May.

Pace of retail sales slows

Retail sales rose 8.1 percent in November from a year earlier, data from the National Bureau of Statistics showed Friday, below expectations for an 8.8 percent rise and the slowest since May 2003. In October, sales increased 8.6 percent. Auto sales fell a sharp 10.0 percent from a year earlier.

 

China
People try garments at a retail and wholesale clothing mall in Beijing, July 16, 2018. China’s economic growth slowed in the quarter ending in June, adding to challenges for Beijing amid a mounting tariff battle with Washington. VOA

 

The slump was in line with data released by China’s top auto industry association, which showed sales dived 14 percent in November, the steepest drop in nearly seven years.

The stresses on broad activity have been compounded by a sharp escalation in China’s trade dispute with the United States, which has threatened to fracture global supply chains, chill investment, exports and growth.

Pace of industrial output slows

Industrial output rose 5.4 percent in November, missing analysts’ estimates and matching the rate of growth seen in January-February 2016. Factory output had been expected to grow 5.9 percent, unchanged from October’s pace.

Over the weekend, China reported far weaker than expected November exports and imports, reflecting slower global demand and waning domestic factory activity as profit margins narrow.

With economic growth at its weakest since the global financial crisis, Chinese policymakers are ramping up spending, pushing banks to increase lending and cutting taxes to shore up businesses and ward off a more damaging slump.

USA, China, Trade War, economy
Plastic bags of fentanyl are displayed at the U.S. Customs and Border Protection area at the International Mail Facility at O’Hare International Airport in Chicago. VOA

The weaker November industrial output and retail sales growth numbers showed that downward pressure on the economy is increasing, said Mao Shengyong, spokesman at the statistics bureau.

Still on track to hit growth target

But China is on track to hit its 2018 economic growth target of around 6.5 percent, Mao told reporters.

“On balance, the latest data show an economy that is under pressure on both the external and domestic front, with policy efforts to shore up growth still falling short,” Julian Evans-Pritchard, senior China economists at Capital Economics, wrote in a note.

A temporary 90-day trade war truce agreed by the United States and China early this month may have removed some of the immediate pressure on the economy.

Also Read: The Escalating Trade War Between China And U.S. Calls A Truce

The impact on China’s economy from the Sino-U.S. trade frictions are not apparent yet, Mao cautioned, adding that the nation will face more “external” uncertainties in 2019.

Indeed, even in the unlikely event the world’s top two economies reach a durable resolution in their dispute, ebbing domestic demand, mounting household debt and a cooling real estate sector point to a further slowdown in growth next year. (VOA)