Thursday, September 14, 2017

Decline in global poverty is breath taking


"The global middle class expanded, as real income went up between 70 percent and 80 percent for those around the world who were already earning at or near the global median, including some 200 million Chinese, 90 million Indians and 30 million people each in Indonesia, Egypt and Brazil.

Those in the bottom third of the global income distribution registered real income gains between 40 percent and 70 percent, Milanovic reports. The share of the world’s population living on $1.25 or less per day — what the World Bank defines as “absolute poverty” — fell from 44 percent to 23 percent."


https://www.cato.org/blog/capitalism-global-trade-reduction-poverty-inequality 


The country with the most success in overcoming poverty did not receive foreign aid. Nor did churches and NGOs set up camp there.

No comments: