March 14, 2021
China has achieved its target of eliminating absolute poverty ten years ahead of the deadline proposed by the United Nations
On February 25, President Xi Jinping announced the end of absolute poverty in China. This was an incredibly difficult achievement. The World Bank commended the achievement and highlighted the fact that China’s contribution to the global effort to end extreme poverty is 70 percent. China achieved the target 10 years before the deadline prescribed under the United Nations’ Sustainable Development Goals. China is celebrating the triumph. President Xi has distributed appreciation medals among the heroes of the fight against poverty. The world is admiring China. It is also wondering how this miracle happened.
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sukuk have been playing a growing role in this process, along with
waqf. But in the grip of the pandemic, different responsibilities and priorities have taken precedence. Of course, this has not brought an end to sustainability initiatives. On the contrary, the financial markets continue to expand their contribution in this sphere.
16. The concern is rather about the impact of the pandemic on the most vulnerable groups of the global community. Already marginalized sections of society face deepening poverty, because economic lockdowns have reduced employment and incomes in the sectors in which they predominate. The United Nations Development Programme has declared that Covid-19 is “ruthlessly exposing the gaps between the haves and the have-nots, both within and between countries”.
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