Global poverty is declining but not fast enough

Takeaway: -Unprecedented progress in reducing poverty has been made in many countries around the world, not just in China.

-This progress will continue, with Asia likely to eliminate extreme poverty by 2030, reducing the global number in extreme poverty by 200 million people to just 5% the world's population.

-Neolibs shouldn't get complacent about progress on global poverty resulting from Globalization. Outside of Asia, the number of people in extreme poverty is increasing as an absolute number.

-Most of this growth is in Sub Saharan Africa, but some is in Latin America.

-The proportion of people can decline even as the absolute number increases due to population growth.

-While there are growth miracles like Ethiopia, India, Bangladesh and China, there are also disasters like Venezuela, Nigeria, and Central African Republic.

-The rate of poverty reduction is not fast enough to meet the United Nations Sustainable Development Goals and is actually slowing down.

Possible ways to improve the situation. -Liberalize free trade, especially in third-world agricultural produce and textiles.

-More export-led industrialization

-Open borders (very unlikely to occur)

-Peacekeeping and conflict resolution efforts in fragile states

-Effective foreign aid & charity, especially in areas of reducing disease burden and education.

-Conditional cash transfers and social uplift efforts by middle-income countries (e.g Brazil can afford to end extreme poverty within it's borders).

  • Effective infrastructure spending

  • Economic liberalization, property rights & contract enforcement, cut red tape, combat corruption etc.

  • Debt relief where responsible.

  • Effective family planning, female empowerment, education, birth control and reproductive services for lowering fertility rates.

/r/neoliberal Thread Link - brookings.edu