Summary of How is extreme poverty being measured in China? | Inside Story
Video Summary
The video "How is extreme poverty being measured in China?" discusses China's claim of eradicating extreme poverty under President Xi Jinping's leadership and the implications of this achievement for both his legacy and the global economy. President Xi announced that nearly 100 million people have been lifted out of destitution over eight years, framing this as a historic miracle. However, critics question the criteria used to define poverty, as China's threshold for extreme poverty is significantly lower than the World Bank's standard.
The discussion highlights the contrasting views on poverty measurement. While China's extreme poverty line is set at $1.70 per day, the World Bank defines it at $1.90, with some experts arguing that China's definition may be too lenient. The conversation also touches on the sustainability of poverty alleviation efforts and the potential for future economic growth, emphasizing the need for a robust middle class.
Experts in the discussion include:
- Aina Tangan, a political analyst
- Dan Wang, chief economist at Hang Seng Bank
- Yuki Tatsumi, co-director of the East Asia Program at the Stimson Center
They debate the effectiveness of China's poverty reduction strategies, the role of government support, and the implications for China's economic policies and global influence.
The panelists express varying opinions on whether China's poverty eradication is sustainable and the broader impact on the global economy, noting that China's increased stability could attract more foreign investment. They also discuss demographic challenges that China may face in the future and how these could be mitigated through international labor dynamics.
Presenters/Contributors
- Sami Zaydan (Host)
- Aina Tangan (Political Analyst)
- Dan Wang (Chief Economist, Hang Seng Bank)
- Yuki Tatsumi (Co-Director, East Asia Program, Stimson Center)
Notable Quotes
— 00:48 — « Looking back we've made great historic achievements in eliminating absolute poverty that had perplexed the Chinese nation for thousands of years, creating a miracle in the poverty reduction history of mankind. »
— 02:18 — « Facts have fully tested to the truth that the Communist Party of China has unrivaled strong power of leadership and is the most reliable force leading and uniting the people and forging forward. »
— 11:28 — « Getting rid of extreme poverty doesn't mean that you've conquered it totally. »
— 14:14 — « If you want to criticize it fine, tell me who's doing more or better. »
— 22:34 — « China's growing footprint is a double-edged sword; as it grows larger, there's more expectations globally about its role. »
Category
News and Commentary