156 - 175. data, averaged headcount ratios for extreme poverty decreased from 68 percent in the 1980s to 8 percent in the five - year period of 2010 - 2014 in south east asia and china. 7 in south asia, the extreme poverty ratios decreased from 50 percent to 19 percent. 8 however, poverty continues to be a considerable burden in asia. people falling into extreme poverty still exist. furthermore, based on the definition of " multidimensional poor, " which takes into consideration levels of education and health as well as living standards, the number of such poor people is globally 1. 5 billion, and about 60 percent of them live in asia. 9 in south asia, the number of the multidimensional poor is disproportionately large relative to its population. wide - ranging measures are beneficial for poverty alleviation. for example, providing the poor with education and employment opportunities has the potential to interrupt the vicious cycle of poverty. when poor parents cannot afford to provide their children with education, their children in turn grow up to be uneducated workers with the great risk of becoming poor parents themselves. breaking such a negative cycle enables the accumulation of human capital, thereby strengthening the potential for economic growth in the long run. a precondition of breaking this cycle of poverty is to push poor parents to recognize that the future benefits of enabling their children to receive education are significant, and that they will far surpass any immediate profit from using their labor in housework and part - time jobs. iii. contributions of financial inclusion among a wide range of poverty - reducing polices, i would like today to focus on policies which promote financial inclusion. according to the consultative group to assist the poor housed at the world bank, " financial inclusion means that households and businesses have access and can effectively use appropriate financial services. such services must be provided responsibly and sustainably, in a well regulated environment. " the g20 has been keen to data for south east asia consist of those for indonesia, the philippines, and thailand. the headcount ratios in this paragraph are calculated using the world bank's poverty and equity database. the source of the figures on multidimensional poor is the united nations development programme's human development report 2016 : human development for everyone. advance financial inclusion with the dual aims of benefiting the poor and activating smaller businesses. regarding financial inclusion for individuals, many poor people engage in financial activities in their daily lives, such as

rates of investment trusts and pecuniary trusts have been at high levels, indicating that money holders such as households have been increasing their risk assets. as i have described, accommodative financial conditions seem to have recently been effectively stimulating private demand, and such conditions appear to be forming the basis bis central bankers ’ speeches for japan ’ s economy to overcome the negative effects of the consumption tax hikes and for a virtuous cycle among production, income, and spending to operate firmly. ii. developments in economic activity and prices a. overseas economies next, i will talk about developments in economic activity and prices. overseas economies – mainly advanced economies – are starting to recover, although the performance remains lackluster in some parts. the growth rate of the global economy in 2014, released in january by the international monetary fund ( imf ), is projected to accelerate to 3. 7 percent from 3. 0 percent for 2013. naturally, the growth rates in emerging and commodity - exporting economies are higher than those in advanced economies. however, advanced economies are projected to show stronger growth momentum than emerging and commodity - exporting economies in 2014, compared to a year earlier. among advanced economies, the growth rate of the u. s. economy is projected to accelerate in 2014 compared to the previous year. inevitably the growth rate of the u. s. economy in the january – march quarter of 2014 will be adversely affected by the record winter snowstorm since december 2013. however, in a situation where balance - sheet adjustments in the household sector seem to have mostly been completed and the fiscal drag has faded, production and private demand are expected to remain firm and the economic recovery is expected to become widespread from the spring. with regard to the employment situation, although some current data showed weakness reflecting the effects of the winter snowstorm, the improving trend remained, as evidenced by a declining trend in the unemployment rate. as for the euro area, in 2014 the economy is projected to emerge from negative growth. concerns persist over further disinflation, but business and household sentiment continues to improve in a situation where financial markets have stabilized, and production has been picking up, albeit moderately. whereas improvements are observed in advanced economies as i described, the situation varies among emerging and commodity - exporting economies. first, the chinese economy has continued to see stable growth, albeit at a slower pace than before, maintaining a yearon - year growth rate of 7. 5 – 8. 0 percent in the