Martin Ravallion, 04 February 2021

The extraordinary reduction in poverty that China underwent after 1980 is often attributed to the pro-market reforms of Deng Xiaoping. This column uses counterfactual analysis – comparing China’s development to neighbouring countries with similar cultures and strong historical ties – to propose a new perspective. When judged against the development of South Korea and Taiwan, the bulk of China’s progress since the reforms began seems mostly a matter of making up for the failures of the preceding 30 years, when Maoist policies left an extra quarter of the Chinese population in poverty.

Events

CEPR Policy Research