Alberto Cottica on Nostr: 11/ China’s low rate of extreme poverty was due to socialist policies that ensured ...
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China’s low rate of extreme poverty was due to socialist policies that ensured basic necessities like food and housing were widespread and affordable. The capitalist reforms of the 1990s, while contributing to developing China’s manufacturing base, coincided with a large increase rate in the rate of extreme poverty, which peaked at 68% (!) before finally returning, in the 2010s, to the level of the 1980s.
China’s low rate of extreme poverty was due to socialist policies that ensured basic necessities like food and housing were widespread and affordable. The capitalist reforms of the 1990s, while contributing to developing China’s manufacturing base, coincided with a large increase rate in the rate of extreme poverty, which peaked at 68% (!) before finally returning, in the 2010s, to the level of the 1980s.