Risk and how to manage it: A missing piece in China’s poverty eradication story

In early 2021, China declared victory in successfully eradicating extreme poverty, lifting every citizen above the national poverty line, defined as $340 per year in 2010 prices. Yet the definition has sparked international debate. This article, by Australian-based Milliman actuary Queenie Chow, focuses on poverty from the perspective of risk, which is often less discussed than dimensions such as food security and health. The article, published on the website of FARM-D—a worldwide forum for agricultural risk management in development—covers the following topics:

• Credit denial
• Risk exposure and coping strategies
• Risk of climate shocks
• Risk management for low-income households

This article was published by Farm-D.

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