Browse our live content here. It was primarily China, not its foreign partners, that reduced poverty in China. China has already lifted more than 500 million people out of poverty after three decades of economic reforms on the mainland. Photo: AFP Achieving it requires a combination of macro policy measures to foster national development and micro-programmes that address specific weaknesses.Emerging economies must also adapt their development strategies to twenty-first century challenges, particularly technological transformation and climate threats. So, while millions of Chinese were lifted just above the poverty threshold, a few individuals were catapulted to the heights of opulence.This was not only a matter of luck or even entrepreneurial spirit. It looks like the email address you entered is not valid.Copyright© Mediacorp 2020. Photo: AFPDisplaced Somalis at a camp wait to receive food rations. meREWARDS lets you get coupon deals, and earn cashback when you complete surveys, dine, travel and shop with our partners Data-led branded content marketing starts with Spark, the Telegraph's creative commercial department. Mediacorp Pte Ltd. All rights reserved. This service is not intended for persons residing in the EU. Over the last four decades, more than 850 million people in China have escaped poverty. Beijing's methods could help other developing countriesDisplaced Somalis at a camp wait to receive food rations. China has lifted 800 million people out of poverty since 1978. If people living in poverty can shake off their plight, it can expand market capacity, enhance the specialized division of labour and facilitate a more efficient and unified large market. China’s poverty line. There has been marked progress in reducing poverty over the past decades. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Like China did, 70 years ago as a poor country, Africa has both promise and agency.

The nation is aiming to eliminate poverty by 2020, according to the latest five-year plan, which targets 70 million remaining poor. This calls for a variety of research and tools. China has followed a remarkable development path over the past decades, fueled by strong growth, paired with investments in people to ensure that growth can translate into poverty reduction. China created the world's largest middle class by pursuing industrialisation, liberalising the private sector, welcoming foreign investment and embracing global trade, says an expert.ANN ARBOR, Michigan: This year’s Nobel Memorial Prize in Economic Sciences was In the Nobel Committee’s view, the economists’ use of randomised controlled trials (RCTs) to test whether specific interventions work – a method adapted from medical sciences – has “considerably improved our ability to fight global poverty”.But while some celebrate the recognition of a new way to tackle an old problem, others doubt that “dividing this issue into smaller, more manageable questions”, as the Nobel Committee puts it, can really reduce poverty on a large scale.Conspicuously missing from this debate is the experience of China, which has accounted for more than 70 per cent of global poverty reduction since the 1980s, the most successful case in modern history.Over the last four decades, more than 850 million people in China have escaped poverty. As millions of farmers moved from fields to factories, they earned wages, saved, and sent their children to school.This, together with a surge in private entrepreneurship, helped to create the world’s largest middle class.What Yao fails to acknowledge, however, is that China’s impressive record of poverty reduction has been accompanied by two serious problems: Inequality and corruption.When President Xi Jinping took office in 2012, China’s Gini coefficient (the standard measure of income inequality, with zero representing maximum equality and one representing maximum inequality) stood at 0.47, higher than in the United Kingdom or the United States.A Chinese household survey reported an even higher coefficient of 0.61, nearly on par with South Africa.A rising tide lifts many boats, but some rise far higher than others. China has been very successful in reducing extreme deprivation, as is evident from the figure below.

As Peking University’s Yao Yang notes, this had “nothing to do with RCTs”, nor did it involve giving handouts to the poor.Instead, it was the result of rapid national development.Since Deng Xiaoping launched “reform and opening up” in 1978, China has pursued export-driven industrialisation, liberalised the private sector, welcomed foreign investment, and embraced global trade. Contrary to Yao’s argument that China owes its economic success to following “the advice of classical economists”, the country has actually defied many standard policy prescriptions – most notably, the belief that Western-style democratisation is necessary for development.That does not mean that authoritarian rule enabled Chinese prosperity, as many believe. Asia and Africa, home to the largest poor populations, have received 80 per cent of China's foreign aid. This service is not intended for persons residing in the EU. Photo: ReutersA malnourished Somali child receives a rehydration salt drink. We must use these now, strategically with all partners, to capitalize on China's poverty reduction for the benefit of African development, and like Kipchoge and Kosgei, break world records at a faster-than-China … The central government has … As of October 2015, China had provided nearly 400 billion yuan in aid to 166 countries and international organizations, dispatched more than 600,000 aid personnel and provided medical assistance to 69 countries.

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