China Focus' Feature: China, Poverty and Global Economic System
Over 650 million people worldwide still live in extreme poverty, the kind that China eradicated in 2021.
- Over 650 million people worldwide still live in extreme poverty, the kind that China eradicated in 2021.
- The reason is the structure of the global economic and trading system that delivers its greatest rewards to the powerful companies and nations that largely control it.
- When outlining his priorities for 2022 to the UN General Assembly, Secretary General Antnio Guterres stated that "The global financial system is morally bankrupt.
- However, poverty is continuously being reproduced by capitalism and the world trading system that foster inequality in incomes and the concentration of economic power.