China’s poverty eradication formula

Poverty is a deep-rooted problem in society. It gives rise to other problems including hunger, diseases and even social conflicts and makes hindrance in people’s pursuit of a better lifestyle. China, which comprises one-fifth of the world population, has emerged victorious in the battle against poverty. It is China’s victory that it has solved its historical problem of poverty. While eradicating poverty, China has gone beyond the textbook theories and now it can provide new perceptions and formulas to fight against poverty at the global level. While fighting poverty, China has met the agendas of the United Nation for sustainable development 10 years ahead of schedule. In the last eight years, China’s 98.99 million impoverished rural residents living under the current poverty line have all been lifted out of poverty. The winning formula in China’s victory against poverty is the path of positive dialectical thinking and improving the whole mechanism of the pro-poor market. China turned the burden of poverty into the source of potential and used the human and natural resources in rural areas for the purpose of prosperity, development and eradicating poverty. By working on the local natural resources, under poverty line areas developed various small businesses subsequently boosting local economic growth and giving opportunities for employment. The key approach of China towards the reduction of poverty is to maintain the goal of national common prosperity by establishing a “pro-poor market” in which all the sectors will work jointly for the purpose of reduction of poverty. China has allocated sufficient resources for the field against poverty. Nearly 1.6 billion Yuan were allocated in each fiscal year to fight against poverty.
Many countries including Pakistan can get lessons from China for eradicating poverty. China, based on its own experience and theoretical ideas in poverty alleviation, is giving back to the human cause of ending poverty and providing a new reference for other countries and regions.
MUJEEB-UR-RAHMAN,
Karachi