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China's capitalist reforms are said to have moved 800 million out of extreme poverty – new data suggests the opposite

  • Written by: Dylan Sullivan, Adjunct Fellow and PhD candidate in the Macquarie School of Social Sciences, Macquarie University
China's capitalist reforms are said to have moved 800 million out of extreme poverty – new data suggests the oppositeShutterstock

It has become an article of faith among many economists that China’s pro-market reforms of the 1980s and 1990s ushered in a sustained reduction in poverty.

This narrative relies on figures from the World Bank, showing that over the past 40 years the number of people in China living in “extreme poverty” (less than...

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