This is the economic development trap of third world societies- GDP growth but decrease in human development.
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This is the economic development trap of third world societies- GDP growth but decrease in human development.
Well countries like India and China you have to measure differently in terms of their rapid GDP growth and citizens quality of life. Unlike most countries these countries have huge populations (both countries alone will account for more than 30% of the world population) so that means it will take much more years of GDP growth to get their poverty rate much lower and give the average citizens a high quality of life.
But with that being said China has been successful in taking more than 20 million of their citizens out of poverty in the last ten years as their economy continue to grow(not sure what is the stat on India) so China at least is moving in the right direction.