In Brief

Too many poor children

The number of people living in extreme poverty around the world has declined sharply over the past three decades. But in 2010 it still included roughly 400 million children, or one-third of those living in such abysmal conditions, according to a new World Bank report, The State of the Poor, which provides an in-depth profile of the poorest people in the world.Â

The report found that 721 million fewer people lived in extreme poverty—defined as living on less than $1.25 a day—in 2010 compared with 1981. But it also concluded that a disproportionate number of children were among them: children accounted for one in three of those living in extreme poverty around the world in 2010, compared with only one in five of those living above the poverty line. In low-income countries, the percentages were even worse, with half of all children living in extreme poverty.Â

“The finding that over 400 million children live in extreme poverty and children are more likely to be poor than adults is disturbing, since this can exacerbate child labor and create intergenerational poverty traps,” said Kaushik Basu, World Bank Chief Economist and Senior Vice President.Â

While extreme poverty rates have declined in all regions, the world’s 35 low-income countries—26 of which are in Africa—registered 100 million more extremely poor people today than three decades ago.Â

Joining the club

Yemen’s 13-year pursuit of a seat at the World Trade Organization (WTO) is set to end successfully with the country’s formal entry into the global trade club early next year.

Members of the Working Party on the Accession of Yemen agreed September 26 on the terms of WTO membership for Yemen. The accession package will be presented to a ministerial meeting in Bali December 3–6 for a formal decision by ministers, opening a three-month window for Yemen to ratify it.

Yemen first applied to join the WTO in April 2000 and will be its 160th member.

Its accession will be a boost for a country that is struggling to recover from the turmoil brought by pro-democracy protests in 2011, which forced the president to step down, took the country to the brink of civil war, and dealt a blow to its already struggling economy.

Being part of the Geneva-based body, whose members are bound to follow global trading rules, may help shore up confidence in its impoverished economy.

A grain of salt

The global cereal supply in the 2013â14 marketing season will surpass the 2012 level by...