On the Web United Nations U.S. State Dept. NATO World Health Org. Page A33 The World Bank recently issued a massive report on global poverty. The question of why will preoccupy the economic and finance ministers now gathering in Prague for the annual meetings of the World Bank and International Monetary Fund. Plenty of countries have dramatically reduced poverty.
China is the most obvious example.
Since 1980, its economy has grown about 10 percent a year. The World Bank report contains one stunning table that illustrates the problem. It shows poverty changes in different regions between 1987 and 1998. The table qualifies the glowing claims for globalization. Trade, technology and pro-market economic policies are supposedly beating back poverty.