#poverty

The Economist:

The country that cut poverty the most was China, which in 1980 had the largest number of poor people anywhere. China saw a huge increase in income inequality—but even more growth. Between 1981 and 2010 it lifted a stunning 680m people out poverty—more than the entire current population of Latin America. This cut its poverty rate from 84% in 1980 to about 10% now. China alone accounts for around three quarters of the world’s total decline in extreme poverty over the past 30 years.

Just to elaborate a bit more on the Bill Gates post from yesterday, these stats are crazy. The economic rise of China has decimated extreme poverty in that country — and has led to a huge improvement (percentage-wise) for the world at large.