China offers solutions to poverty alleviation and narrowing development gap: Jeffery D. Sachs

by Wu Xilu

A session titled “Inclusive Development – Efficiency and Equity” was held on Apr. 20, 2022 during the three-day Boao Forum for Asia Annual Conference 2022.

Jeffrey D. Sachs, director of the Center for Sustainable Development at Columbia University, attended the session and spoke on a more balanced development at the domestic as well as the global level.

“I wrote the book End of Poverty almost 17 years ago saying that extreme poverty could be ended on the planet,” said Jeffrey D. Sachs, “Fortunately China is proving me correct.”

Countries and regions, where large numbers of the poor people have fallen, need the same essential approach that China used, the economist said.

China’s Belt and Road Initiative was also hailed as an effective way to expand financial flows into low- and middle-income countries and promote common development.

“I would like to see the EU and the United States view the Belt and Road Initiative in terms of partnership, rather than competition or opposition,” he said.