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IMF: Income inequality hurts the economy
An International Monetary Fund (IMF) official urged the Philippines and the region to address the growing income gap between the rich and poor, saying this could make economic growth less sustainable…[Speakers and participants urged countries] to go beyond GDP when aiming for sustainable growth…Fu Jun, professor at Peking University in China, said: "…You should think about human development or wellness and social dimensions." Nandu Nandkishore of the Nestle group had the same view. "We need to move beyond GDP to other measures such as health, employment and millennium development goals."…