China lift­ing 800m peo­ple out of poverty is his­toric

Iran Daily - - Society -

China lift­ing more than 800 mil­lion peo­ple out of poverty since the start of its eco­nomic re­form is a great story in hu­man his­tory, World Bank Pres­i­dent Jim Yong Kim said to­day, un­der­lin­ing that there is ‘lessons to be learned’ from this Chi­nese ex­pe­ri­ence.

“This is one of the great sto­ries in hu­man his­tory, frankly,” Kim told re­porters at the start of the an­nual meet­ings of the In­ter­na­tional Mone­tary Fund and the World Bank.

Ac­cord­ing to in­, start­ing in 1990 with the evo­lu­tion of the Chi­nese eco­nomic sys­tem and its em­brace of the global mar­ket China has lifted over 800 mil­lion out of poverty, he said.

“So, most of the progress that’s been made in go­ing from 40 per­cent of the world liv­ing in ex­treme poverty to now less than 10 per­cent…most of that progress hap­pened in China.

“So, we’re al­ways look­ing for the lessons from that ex­pe­ri­ence and it con­tin­ues,” Kim said in re­sponse to a ques­tion.

The World Bank, he said, has been work­ing very closely with China on things like en­sur­ing that some of the more dis­tant re­gions in China are also get­ting ac­cess to so­cial ser­vices and health­care.

“It is work­ing right now on a pi­lot project on health­care sys­tem. If it works out it could lead to a ma­jor change in the health­care sys­tem that would help to im­prove out­comes over­all,” he said.

“So, this ef­fort has been his­toric. I think we’re still try­ing to un­der­stand ex­actly how 800 mil­lion peo­ple were lifted out of poverty, but it was one of the great suc­cesses.”

The World Bank chief, how­ever, re­frained from re­spond­ing to ques­tions on the up­com­ing congress of China’s rul­ing Com­mu­nist Party.

“These are in­ter­nal Chi­nese po­lit­i­cal mat­ters. But I think China has been pretty clear about the di­rec­tion it’s go­ing,” he noted.

A joint doc­u­ment that China and the bank pub­lished some time ago said that China 2030 was very clear about how it’s go­ing to change the path of growth from fo­cus­ing so much on in­vest­ment and ex­port to un­fo­cused on ser­vices and con­sump­tion, he said.

That’s ac­tu­ally hap­pen­ing. So, we’re en­cour­aged that China has stayed on a course of this change from what they call rapid growth to more qual­ity eco­nomic growth, he said.

He added, “While we think that the growth rate is go­ing to re­main sta­ble in China this year we’re wait­ing to see what comes out of the Party Congress just like ev­ery­one else. But I don’t ex­pect a ma­jor change in pol­icy.

“I think, the eco­nomic growth strat­egy has been made clear and we’ve been watch­ing as they’ve kept to the plan.”


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