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Poverty will only End by 2030 if Growth is Shared

Espen Beer Prydz's picture

Migrant workers cook a meal While the world has seen a rapid reduction in extreme poverty in recent decades, the goal of ‘ending poverty’ by 2030 remains ambitious. The latest estimates show that 1 billion people (14.5% of the world’s population) lived below the $1.25 threshold in 2011. Projections until 2030 suggest that even under optimistic growth scenarios, the global poverty target may not be reached. The latest World Bank estimates show that if developing countries were to grow at the (rather unprecedentedly high) rates they achieved during the 2000’s the global poverty headcount could decline from 14.5% in 2011 to 4.9% in 2030 – short of ‘ending poverty’. These projections assume distribution-neutral growth – that every individual’s income within each country grows at the same rate, essentially keeping inequality unchanged. As in the past, overall growth will be an important driver of future poverty reduction, but the inclusiveness of growth will also matter.

World Toilet Day: The link between gender equality and sanitation

Junaid Kamal Ahmad's picture

​​Junaid Ahmad, World Bank Group Senior Director for Water, and Caren Grown, World Bank Group Senior Director for Gender, wrote a blog for Thomson Reuters Foundation ahead of World Toilet Day. Read the blog below, which originally appeared in Thomson Reuters Foundation.

Advancing equality for women in developing countries is not only the right thing to do, it makes good economic sense.

Gender equality enhances productivity, improves well-being, and renders governing bodies more representative. And yet around the world, discriminatory laws, preferences, and social norms ensure that girls and women learn less, earn less, own less, enjoy far fewer opportunities to achieve their potential, and suffer disproportionately in times of scarcity or shock.

The Things We Do: How Goals Corrupt

Roxanne Bauer's picture

China has a long tradition of burying the dead and building tombs to honor them. This ancient practice, however, has recently been butting heads with modernity as the Chinese government now needs to conserve limited land for farming and development to support its people.  In an effort to use land more effectively, the government launched a campaign to encourage cremation instead of burial, and authorities demanded that a minimum number of corpses be cremated each year, based on the total population of the previous year.
 
The campaign, however, led to unexpected results.  At the start of November, two officials in China’s Guangdong province were arrested for allegedly buying corpses in order to meet the strict cremation quotas. Police from Beiliu City in Guangxi Province began investigating the theft of bodies in the region during the summer and apprehended a grave robber named Zhong in July. Zhong admitted to stealing more than 20 bodies from the graveyards of local villages in Guangxi at night. He then transported the bodies to Guangdong province to the east, where he sold them to two local officials. These two officials, He and Dong, were formally in charge of funeral management reform in the province and were arrested for purchasing the corpses with the intent of delivering them to a funeral parlor for cremation on the official registry.

Compare this to public school teachers in the United States who cheated on standardized test scores by illegally viewing tests ahead of the test date and changing their students’ answers to meet high yearly targets for student progression.

How to Insult Your Opponent

Sina Odugbemi's picture

You really should not go around insulting those who take an opposing viewpoint in public debate. The ideal is clear. You treat opponents with respect. You take seriously what they are saying. In responding, you do not cheat, you do not unfairly sum up or characterize what they are saying. You acknowledge facts; you are not entitled to inventing your own facts. Above all, as much as possible, you avoid logical fallacies. You argue logically and cogently. For, that is the only way that the search for truth is advanced, and it is the only way that informed public opinion created. In short, abuse is no argument. Civility in public discourse is a great and worthwhile ideal.

And yet!

Much of public debate and discussion takes the form of invective. It was always thus; and it seems it will always be thus. The culprits, I suppose, are human passions; those self-same unruly horses that carry us to great heights when we want to achieve something worthwhile. We often become so convinced that we are right that we cannot imagine how anyone would disagree. And when we confront opponents who are as certain as we are that they are right something seems to snap. Faces contort. Abuse and spit fly. No matter how often people are told to calm down, commit to logical reasoning, respect facts… nothing seems to work. A huge chunk of public debate on the great issues of the day is characterized by the trading of insults.

Insults must serve a purpose, otherwise how come all public political cultures have them?

Chinese Lessons: Singapore’s Epic Regression to the Mean

Danny Quah's picture

Across all recorded history, 99% of humanity has never invented a single thing. Yet, it is a truth universally acknowledged that long-run sustained progress in economic well-being arises from human creativity and innovativeness. In this regard, the average human and indeed the great majority of humanity over the last seven million years provide a completely misleading guide to what is possible.

Misapplied, the Law of Averages misinforms.
 

Media (R)evolutions: Emerging Markets to Lead Sales of Technology Devices in 2015

Roxanne Bauer's picture
New developments and curiosities from a changing global media landscape: People, Spaces, Deliberation brings trends and events to your attention that illustrate that tomorrow's media environment will look very different from today's, and will have little resemblance to yesterday's.

2015 forecasts for sales of technology devices indicate global stability as the market remains at around one trillion USD, where it has hovered for the last three years. However, the forecasts also predict shifts at the country level as the top ten largest growth markets will increase by over $10 billion. Emerging markets, in which both volume and pricing contribute to positive sales, will dominate this growth. 

India will experience the highest growth rate, primarily driven by smartphones sales, followed by China. China's technology device market represents an interesting case study because it is predicted to grow by just $1.8 billion in 2015-- a mere 1% increase over the estimated 2014 total-- but that is still large enough for second place. 
 
Emerging Markets to Lead Tech Sector Growth in 2015
Infographic: Emerging Markets to Lead Tech Sector Growth in 2015 | Statista
You will find more statistics at Statista

China’s Yang Lan Asks How to Help the Have-Nots

Donna Barne's picture
Poverty may be falling, but 1 billion people still live in extreme poverty. Inequality is growing everywhere. What is the World Bank Group doing about this?

The World Bank Group President Jim Yong Kim and World Bank Chief Economist Kaushik Basu had some answers in a live-streamed conversation, Building Shared Prosperity in an Unequal World, with Chinese media entrepreneur Yang Lan in the lead-up to the institution’s Annual Meetings on Wednesday morning.

Youth as Change Agents to Curb Corruption in Latin America

Ledda Macera's picture
In the development world, children are often seen as the powerless victims of poverty, hunger, and social inequality, but research suggests that young people can often be powerful forces for change. From disease prevention and improved hygienic habits, information presented to children in school and through social and other media is often then passed on to parents, households, and even communities, thus encouraging positive change from the ground up. And fortunately, it appears that development experts are catching on!
 
 © Curt Carnemark / World Bank

Let’s Talk Convergence

Homi Kharas's picture

The city of Tianjin In a recent article called “Economic Convergence: The Headwinds Return”, The Economist magazine called the rapid convergence of income levels between developing countries and the United States an aberration. It presented data showing that the difference between income per capita growth in developing countries and in developed countries had peaked around 2008 and had since become steadily smaller. When China is excluded from the calculations, the difference becomes smaller still.

So should we dismiss convergence as a trend whose time is past? I would argue that this would be premature, and that convergence is still a feature of our time. The different conclusion is not because of different data--both of us use the IMF’s World Economic Outlook series for GDP per capita at purchasing power parity terms, and its forecasts until 2019—but a different approach to convergence.

Austerity vs. Fiscal Stimulus: A False Dilemma?

Augusto Lopez-Claros's picture

The 2008-2009 global financial crisis led to a number of large–scale government interventions across the world. These included massive provisions of liquidity, the takeover of weak financial institutions, the extension of deposit insurance schemes, purchases by the government of troubled assets, bank recapitalization and, of course, packages of fiscal stimulus, sometimes of a scale not seen since World War II. Even the IMF, the world’s traditional guardian of sound public finance, came out strongly in favor of fiscal loosening, arguing through its managing director that “if there has ever been a time in modern economic history when fiscal policy and a fiscal stimulus should be used, it's now” and that it should take place “everywhere where it's possible. Everywhere where you have some room concerning debt sustainability. Everywhere where inflation is low enough not to risk having some kind of return of inflation, this effort has to be made".


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