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.
China’s high economic growth during the last three decades is well known. But less attention has been paid to the dividends of that growth and the country’s rapid urbanization: China has lifted half a billion people out of poverty in the last 30 years – an historic feat.
But the country’s leadership knows that many challenges remain – some coming as a result of the rapid growth. For 30 years, the World Bank Group has had a strong partnership with the government and we’ve recently completed two landmark joint studies: China 2030 (guided by the leadership of my predecessor, Robert Zoellick), and the Urban China report, released just a few months ago.
Something Is Changing
Fifteen years ago, the international community designed the Millennium Development Goals, including that of halving extreme poverty, through a process that mostly took place in New York, behind closed doors. A few years earlier, the World Bank had developed the guidelines of the Poverty Reduction Strategy for Heavily Indebted Poor Countries from Washington, D.C. in a similar fashion.
Fortunately, this approach has changed.
Today, the process of identifying and consulting on the post-2015 development agenda has been opened to the general public including, importantly, those whom the goals are expected to serve. In fact, the United Nations and other partners have undertaken a campaign to reach out directly to citizens for ideas and feedback on the issues most important to them in the post-2015 agenda. Those who are formulating the post-2015 goals will no longer need to assume what the poor and vulnerable want: they will have a firsthand knowledge of what their priorities are.
The World Bank Group has explicitly stated that our new goals of eradicating extreme poverty and boosting shared prosperity cannot be achieved without institutions, structures, and processes that empower local communities, hold governments accountable, and ensure that all groups in society are able to participate in decision-making processes. In other words, these goals will not be within reach without a social contract between a country and its citizens that reduces imbalances in voice, participation and power between different groups, including the poor.
Right now, as you read this, wherever you are, we are in uncharted territory. Our global population of 7.1 billion is headed for more than 9 billion by 2050. With our growing numbers and aspirations for shared prosperity comes a growing demand for energy to power homes, businesses, industry and transport. Our continuing reliance on fossil fuels is generating pollution and a dangerously high amount of greenhouse gas emissions – this past summer, the concentration of CO2 in the atmosphere passed levels not seen in 3 million years.
If you were in Beijing last week, you felt the impact in your lungs: Just 16 days into the new year, the city woke up to its first “airpocalypse” of 2014, the latest in a series of dangerously high smog days. Beijing’s mayor announced plans the same day to cut coal use by 2.6 million tons and ban heavily polluting vehicles.
That was an important local step, and we are seeing forward-thinking cities and national governments make similar moves as they develop the architecture for a cleaner, low-carbon future.
The global economy is finally emerging from the financial crisis. Worldwide, growth came in at an estimated 2.4 percent in 2013, and is expected to rise to 3.2 percent this year. This improvement is due in no small part to better performance by high-income countries. Advanced economies are expected to record 1.3 percent growth for the year just finished, and then expand by 2.2 percent in 2014. Meanwhile, developing countries will likely grow by 5.3 percent this year, an increase from estimated growth of 4.8 percent in 2013.
The world economy can be seen as a two-engine plane that was flying for close to six years on one engine: the developing world. Finally, another engine – high-income countries – has gone from stalled to shifting into gear. This turnaround, detailed in the World Bank’s Global Economic Prospects 2014 launched last Tuesday, means that developing countries no longer serve as the main engine driving the world economy. While the boom days of the mid-2000s may have passed, growth in the emerging world remains well above historical averages.
High-income countries continue to face significant challenges, but the outlook has brightened. Several advanced economies still have large deficits, but a number of them have adopted long-term strategies to bring them under control without choking off growth.
Sắp đến kỳ nghỉ lễ, chúng ta, những người tiêu dùng, sẽ lại bàn tán nhiều về việc làm sao nấu được bữa ăn ngon giúp cho bạn bè và người thân có được một kỳ nghỉ vui vẻ, thay vì bị ngộ độc thực phẩm và bị đưa đến phòng cấp cứu.
In the lead up to the holidays, much will be written about how we, as consumers, can safely prepare food to ensure that friends and family remember a wonderful holiday meal and not the bout of food poisoning that landed a loved one in the emergency room.
But it often strikes me that other major threats to food safety – those that lie undetected in farms and factories and other vulnerable points along the food supply chain – are not part of the conversation until tainted food surfaces in grocery stores and on dinner plates, making millions sick and even killing people along the way.
As global headlines have illustrated – packaged salads in the United States, sprouts in Germany, milk and infant formula in China – food safety is a serious issue that affects all of us: individuals, nations, and businesses. No country is immune, and as global agri-food value chains become more integrated, food safety hazards that were once geographically confined can now span countries and continents with ease.
Join me in a Twitter Chat on why global food prices remain high on Dec. 4 at 10 a.m. ET/15:00 GMT. I'll be tweeting from @worldbanklive with hashtag #foodpriceschat. Ask questions beforehand with hashtag #foodpriceschat. Looking forward to seeing you on Twitter.
Today there are 842 million who are hungry. As the global population approaches 9 billion by 2050, demand for food will keep increasing, requiring sustained improvement in agricultural productivity. Where will these productivity increases come from? For decades, small-scale family farming was widely thought to be more productive and more efficient in reducing poverty than large-scale farming. But now advocates of large-scale agriculture point to its advantages in leveraging huge investments and innovative technologies as well as its enormous export potential. Critics, however, highlight serious environmental, animal welfare, social and economic concerns, especially in the context of fragile institutions. The often outrageous conditions and devastating social impacts that “land grabs” bring about are well known, particularly in severely food-insecure countries.
So, is large-scale farming—particularly the popularly known “super farms”—the solution to food demand challenges? Or is it an obstacle? Here are the 10 key questions you need to ask yourself to better understand this issue. I have tried to address them in the latest issue of Food Price Watch.
- food security
- food price watch
- super farms
- South Asia
- United States
- United Kingdom
- Trinidad and Tobago
- Russian Federation
- Congo, Democratic Republic of
Can’t we just grow out of our poverty problems? Truth be told, a large part of the reduction in poverty observed in the last decade is attributed to growth. And the correlation between growth and income growth of poor is very high: According to a recent paper by David Dollar and co-authors, incomes of the poor increase on average at a similar rate as incomes of the whole population. For many years the mantra has been that economies should grow, and with that poverty will fall. Look at China, fast growth and voila – dramatic and sustained poverty reduction. Look at Chile – many years of sustained growth have led to an extreme poverty rate in the single digits.