At the China Development Forum 2024, World Bank Group President Ajay Banga praised China’s remarkable achievements in poverty reduction, highlighting its significant contribution to lowering global poverty rates.
According to Banga, China’s success has played a pivotal role in reducing the global poverty rate from 44 percent to 9 percent. He noted that China’s explosive job growth coincided with its fastest period of poverty reduction in history, demonstrating that creating jobs is the most effective way to combat poverty and promote prosperity.
Banga emphasized the importance of sustained economic growth and inclusive development in lifting people out of poverty. He called on other nations to learn from China’s experience and prioritize job creation to address poverty challenges.
The China Development Forum attracts global leaders, policymakers, and experts to discuss economic and social development strategies. This year’s forum focused on fostering collaboration and sharing insights on addressing global challenges.
China’s success in poverty reduction has not only benefited its own population but has also had a profound impact on global poverty levels. Banga’s remarks underscore the critical role that developing economies play in achieving worldwide poverty alleviation goals.
The World Bank President’s acknowledgment of China’s achievements highlights the importance of targeted policies and job creation in addressing poverty. As countries worldwide strive to reduce poverty and promote economic growth, China’s experience offers valuable lessons in effective poverty alleviation strategies.
Reference(s):
World Bank: China's poverty reduction drags down global poverty
cgtn.com
