The primary cause of the decline in poverty rates in China was the introduction of market reforms.
China had been a colony and, after the Communist revolution, a predominantly rural and agrarian economy. Poverty rates were high at the time.
In the 1970s, Deng Xiaoping introduced important market reforms, allowing free trade and promoting entrepreneurship.This led to decline in extreme poverty, particularly in urban areas.
The World Bank reported that more than 850 million Chinese have been lifted out of extreme poverty, and China’s poverty rate had fallen from almost 90 percent in the 1980s to less than 1 percent today.
China’s extensive economic reforms in the 1970s, led to rapid rise of per capita income. The per capita income had increased by over five times since the 1990s.
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