China’s contribution to the net reduction in poverty is equal to 100% of the world’s total

26th November 2013 Socialist Action 0

The following article by John Ross evaluates China’s contribution to the reduction of human poverty. It previously appeared at Socialist Economic Bulletin.

In 2010 Professor Danny Quah, of the London School of Economics, noted: ‘In the last 3 decades, China alone has lifted more people out of extreme poverty than the rest of the world combined. Indeed, China’s ($1/day) poverty reduction of 627 million from 1981 to 2005 exceeds the total global economy’s decline in its extremely poor from 1.9 billion to 1.4 billion over the same period.’ The aim of this article is to analyse the situation taking data published three years after Quah’s analysis; look at the trends not only of extreme poverty, which the World Bank calculates using expenditure of $1.25 a day or less; examine a slightly wider poverty definition ($2 a day expenditure), and compare the trends in other regions of the world economy.

© Global Times

China’s economy speeds up

22nd January 2013 Socialist Action 0

The following article by John Ross analyses the economic policies underpinning the slowdown and then the accelerated growth of China’s economy in 2012. Since the article was published on china.org.cn on 1 January, the release of new economic data confirms the article. They show that China’s GDP expanded by 7.9 per cent year on year in the fourth quarter of 2012, accelerating from 7.4 per cent in the third quarter, and resulting in 2012 full-year growth of 7.8 per cent.

China’s economy in 2012 was “a tale of two halves”: In the first six months slowdown, even a feeling of developing crisis; in the second half recovery and accelerating growth. The story therefore had a happy ending. But it is worth noting what went wrong in the first half, and how it was corrected in the second, as this contains lessons for the future.

China – Economic projections slightly cautious

19th November 2012 Socialist Action 0

The following article by John Ross which evaluates the economic projections of the recent Chinese Communist Party congress, appeared in Global Times on 12 November.

The central economic goal outlined in General Secretary of the CPC Central Committee Hu Jintao’s report to the 18th National Congress of the CPC is achieving a “moderately prosperous society”. This created discussion of whether this goal is realistic and in what time scale.

photo: www.juventudrebelde.cu

China – an issue of fundamentals

5th July 2011 Socialist Action 0

By Jane West 

It is extremely difficult for those in imperialist countries, although as we shall see not for those in semi-colonial ones, to understand the full importance of the Chinese Revolution – which is, with the Russian Revolution of 1917, the most important event in modern human history.

The US attempt to militarily encircle China

3rd July 2011 Socialist Action 0

By Jane West

US imperialism is facing a threat to its global economic, and therefore also political, dominance. Even at market exchange rates the latest estimates are that the size of China’s economy will overtake that of the US within ten years. The recent prediction by the IMF that on current trends the size of the Chinese economy, measured in PPP terms, will overtake the US in as little as five years’ time, created international comment