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China reduced rural poverty from 96% to 0.6% in just 39 years From 1980-2019, it lifted 750m people out of poverty How? Through high, sustained economic growth, making average Chinese 24x richer https://data.worldbank.org/indicator/NY.GDP.PCAP.KD?locations=CN … https://osf.io/preprints/socarxiv/8rbgw/ …pic.twitter.com/Tv4JWftpKS
Growth reduces poverty, more inequality increases it China is not exceptional at turning growth into poverty reduction, but exceptional at high growth for a long time Graph shows: per person growth rate (horizontal) % point reduction in poverty per % point growth (vertical)pic.twitter.com/jr7KLyrlgM
China accounts for three-quarters of absolute poverty reduction in the world We should work for more, high, and sustained economic growth per person everywhere else https://osf.io/preprints/socarxiv/8rbgw/ …pic.twitter.com/PGZCeNsWHh
(China rural population has declined relatively, but is still sizeable: about 800m in 1980, now about 600m, http://iresearch.worldbank.org/PovcalNet/povOnDemand.aspx …)
Often growth is - as a capitalistic model - said to make people more unequal - if I get I right - so how is this explained? Thank you in advance :)
Global inequality increased dramatically since 1820, because the west industrialized, leaving everyone else behind Since then, most countries have started catching up And now, because of China, India etc, global inequality is *decreasing* https://wid.world/document/longrunpaper/ …pic.twitter.com/nMH1IGXvRK
let's reframe this correctly: Not "it lifted", but "750 million people lifted themselves out of poverty". Poverty that was caused by the same party in the three decades before. China got richer, because it got a little more free
Long live Capitalism!
That growth…probably needed a lot of energy. High density, low cost, easily storable and transportable energy. I wonder what they used??
China's achievement needs more recognition. Instead the media focus on antipathy and difference
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