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High time to up the ante in fight against poverty : Comments
By Maree Nutt, published 5/4/2013The focus on the MDGs resulting in greater aid and domestic investments, as well as advances in trade and technology, has undoubtedly helped make the world a better place.
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The overwhelming reason for the reduction in global poverty since 1981 has been China’s economic development. Of the estimated 648.8 million reduction in the global absolute poverty headcount between 1981 and 2008, some 662.1 million occurred in China. In the rest of the world the global poverty headcount rose slightly, though as a percentage of the population poverty is declining in all regions:
http://siteresources.worldbank.org/INTPOVCALNET/Resources/Global_Poverty_Update_2012_02-29-12.pdf
Aid many have its place, and personally I would like to see the government spend more on aid so long as it is carefully targeted at investments that raise economic growth prospects.
But in the aid vs trade debate on the most effective way to eliminate poverty, there is a clear winner. Economic growth, not handouts, is the way to sustainably reduce poverty; and trade in the globalised economy is an essential component of an economic growth strategy.
It is the Government of the People’s Republic of China, not the UN and its hangers-on, who deserve congratulations for this tremendous achievement