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The poverty reduction comes from the Chinese "Communist" Party adopting capitalism.

• nathan_compton 1y ago
  This is a pretty glib way of putting it. The chinese system isn't really capitalism, at least not of the "free market" type. Like I'm not saying that communism is responsible for the improvements in poverty, but I am saying that a significantly non-capitalist system has resulted in big changes. My point is that we often talk like anything that is not a pure capitalism is bound to grind to a halt and be catastrophically bad, but that isn't true.
  • ackfoobar 1y ago
    On the spectrum between pure communism and pure capitalism, modern China is closer to the US than the US is close to pure capitalism. > has resulted in big changes The change was allowing market forces to align incentives. https://en.wikipedia.org/wiki/Reform_and_opening_up https://en.wikipedia.org/wiki/Reform_and_opening_up