Rana Tahir Shahbaz

CHINA has won a remarkable victory in the fight against poverty with the utmost determination and set a record for “the biggest anti-poverty campaign in history”.

Now with zero poverty, China is embarking on a new journey towards a moderately prosperous society in all respects.

The government has increased funding for poverty reduction, both nationally and locally.

Financial institutions have increased their contributions to increase loans and support local projects.

By creating strict benchmarks and targets for local institutions, the government has created a way to measure targets and ensure wise investments.

Clearly defined objectives included investment in food security, education, health and housing, particularly in rural areas.

The provision of easily accessible public services is also a useful means of achieving economic equality.

By registering the poor in a national database, the government was able to effectively monitor and implement national strategies.

This registration system also allowed for a more targeted approach. Loans, grants and higher wages were economic means by embracing that China created opportunities for local businesses and the self-employed. Large companies were also encouraged to invest in smaller companies and development projects.

There are a number of lessons that other countries can learn and adopt to ensure the success of their poverty reduction projects, said Dr. Alessandra Cappelletti, associate professor in the Department of International Studies at the Institute. Xi’an Jiaotong-Liverpool University.

One of the keys to the success of the Chinese plan was strong political will and making it a priority.

Amid COVID-19, China has accomplished its tasks to win the battle against poverty and achieved the UN’s poverty reduction target 10 years ahead of schedule.

Once a county was lifted out of poverty, it would have been easy for officials to sit back and pat themselves on the back for a job well done.

However, says Dr. Cappelletti: “Chinese policymakers believe that each solution generates 10 additional tribulations. This comes from the “relational” worldview, which sees complexity in everything. »

One of these new problems is maintaining wealth. “One strategy is to help farmers develop their own businesses. In a village in Sichuan, China Agricultural University in Beijing helped farmers restore their homes and rent rooms to tourists,” she said.

Over the years, Cappelletti explains, China has changed its economic focus: “There has been a push to upgrade China’s economic system from one based on cheap labor and dependent on coal, towards an innovative technology-driven model.

“The country has also prioritized strengthening the domestic market and reducing export dependency.

An indirect way to boost the local economy is to increase investment in education and health, she explains, because when these services are more affordable for ordinary citizens, disposable income is higher.

Comments are closed.