China Made False Claims That It Has 'eliminated' Extreme Poverty: USCC Report
China has failed to combat 'extreme poverty' yet claimed victory in its 'war against poverty,' said the US-China Economic and Security Review Commission report.

Amid the battle against the COVID-19 pandemic, China has failed to combat 'extreme poverty', yet claimed victory in its war against it, said the US-China Economic and Security Review Commission report released on Wednesday. Calling out Beijing on its assertions about meeting the demands of the impoverished population in its territorial region, the report highlighted that China has made 'dubious' claims despite the issue being one of its central themes of a centennial propaganda campaign. In the same report published on Wednesday, the USCC also claimed that the country's financial structure is still reeling under the impact of the debt burden that has further escalated during the COVID period.
One of the central themes of the centennial propaganda campaign has been Beijing's assertion that it has eliminated extreme poverty by 2020, a goal first announced by General Secretary (of Communist Party of China, CPC, and President) Xi (Jinping) in 2015," USCC said. It was referring to the Poverty Alleviation: China's Experience and Contribution, a text released by China's State Council Information Office in April 2021, later published in Xinhua.
The 'Poverty Alleviation' paper claimed that "over the past century, CPC has united and led the Chinese people in the battle against poverty with unwavering faith and will." Referring to the same, the USCC report added that China has made unambiguous claims of success "in the battle against extreme poverty and eliminating overall extreme poverty for the first time in its history of thousands of years, and realising a century-long aspiration of the Chinese people."
Additionally, economic experts have also noticed serious income inequality and shortcomings in China's governmental methodologies that have been fuelled under expanding debt burden stressing China's financial sector following the 2008 global crisis, the USCC report stated.
China facing turbulence in the financial sector since 2008
It is worth the mention that USCC is a bipartisan commission created by Congress in 2000 to monitor trade, economic, and defence issues in US-China ties. The 551 pages report published by the committee on recent financial structure developments in China also shows that CPC used fiscal stimulus measures to address the economic slowdown caused by COVID in the past two years.
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"By the end of the fourth quarter of 2019, China's total credit reached 262.9% of its GDP at USD 37.2 trillion (RMB 259 trillion), up from 178.8% at the end of 2010," read the data of the Bank for International Settlements. "China's debt growth accelerated between the end of 2019 and the end of 2020, rising to 289.5% of GDP," it added.
Nice going Chinese Communist slavers