Prosperous China good for the world

Editor's note: With the world facing uncertainties, enhanced international cooperation is needed to revive global economy. As China pursues high-quality development, it will continue to be the engine of global growth. Three experts share their views on the issue with China Daily.

There is no meaningful definition of development today that does not have at its heart poverty reduction. Whether one looks at the University of Oxford's concept of "multidimensional poverty", the "human development" approach of the United Nations, the "sustainable development goals" (set also by the UN in 2012) or Economics Nobel Prize winner Amartya Sen's view of "development as freedom" where freedom from deprivation is a core component, pure economic variables are not sufficient to make people understand and design policies on development.

There are still some neoliberal economists and policymakers that propagate the idea that to become developed economies, the countries of the Global South ought to be only concerned about increasing their economic growth rate. There are others that, while identifying with a broader definition of development that includes poverty reduction, promote the idea that fast-paced economic growth is a necessity to realize that objective.