Can we end extreme poverty in a world with extreme inequality? That question inspired a spirited debate in English and Spanish on Oct. 7, just ahead of the World Bank Group-IMF Annual Meetings in Lima, Peru, addressing corruption, taxation, discrimination against women, and the need to even the playing field for the younger generation.
Latin America’s experience with inequality was front and center at the live-streamed event, Inequality, Opportunity, and Prosperity, featuring World Bank Group President Jim Yong Kim, Ibero-American Secretary General Rebeca Grynspan, Oxfam International Chair Juan Alberto Fuentes Knight, and moderated by CNN Español news anchor Patricia Janiot.
We started with a standard warm-up question as Gangi Devi, our first respondent, sat in anticipation. “Tell me a little bit about your society. What is distinctive about the Himachali way of life?” A smile lined up a face creased otherwise with wrinkles. “We are a peaceful society,” she said after thinking a little. “People here are good to one another, we stand by each other.” A person sitting next to her added for good measure, “We Himachalis are very innocent people.”
For those working in the development space in India, the state of Himachal Pradesh, a small state ensconced in the Himalayas with a population of 7 million, is an outlier for many reasons, not least of which is Gangi Devi’s near puritan response.
Gangi Devi lives near a tourist centre close to Shimla, the state capital, which has seen increasing tourist footfall in recent years. Even as her community is debating the costs and benefits of increased activity around their village, Gangi Devi and her neighbours trust that the state government would keep people’s interests in mind and address adverse impacts, if any, of increased tourism on the environment.
Their belief in the government is supported by real actions. Himachal Pradesh is the first state in India to ban the use of plastic bags. Smoking in public spaces in the city of Shimla is punishable by law.
Governance in Himachal Pradesh looks doubly impressive when considered against an enviable development record.
When I got that quote by the French philosopher tattooed on my arm, I wasn’t thinking about world poverty. I wasn’t thinking about the environment or peace or conflict or starvation or social justice. In fact, aside from puzzling over which recycling bin my coffee cup goes in, I didn’t think about much outside of my own world. Like so many others, I have plenty of my own problems to worry about, let alone ending world poverty. It’s easy to get caught up in our own lives. That daily crush of details — getting to work on time or paying the bills — can swallow up years. But if everyone only focused on what’s happening in their own world, then nothing would ever get better.
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.
Laura Tuck, Vice President for the World Bank's Europe and Central Asia region, discusses her trip to Poland, its economy, progress in boosting shared prosperity, and the World Bank's partnership with the country.
In two weeks, economic policymakers from around the world will gather in Washington, D.C., for the World Bank-IMF Spring Meetings. As has been the case for the past five years, there will be much talk of economic crisis and of strategies to restore confidence, kick start growth, and create jobs. There is growing evidence that we are on the right track, but this agenda still requires much more work.
The meetings, though, also offer an occasion to look beyond the short term crisis-fighting measures. It is a chance for leaders to adopt a long-term perspective and assess where we stand and where we are headed.
If they do, they will see that today we are at a moment of historic opportunity. For the end of absolute poverty, a dream which has enticed and driven humanity for centuries, is now within our grasp.