Friday, February 26, 2021

China Declares Victory

 In the war against poverty, the Chinese government claims success.

 Over an eight-year period, nearly 100 million people have been lifted out of poverty, 832 poverty-stricken counties as well as 128,000 villages have been removed from the poverty list.

China has set a low bar in its definition of poverty, and that ongoing investment is needed in its poorest areas. The threshold set by China to define extreme poverty amounts to $1.69 a day at current exchange rates, compared to the World Bank's global threshold of $1.90.  In China, extreme poverty is defined as earning less than $620 (£440) a year.

Wide income inequalities continue to exist.

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