EXPLORING THE EFFECTS OF FISCAL SPENDING ON LIVELIHOODS IN POVERTY ALLEVIATION: A COMPREHENSIVE PERSPECTIVE

Abstract

Poverty remains a pressing global issue and a central concern in the field of Development economics. This problem is particularly prominent in China, a nation with the world's largest population, where issues such as uneven development and a weak foundation persist. The persistence of poverty in China's economic development trajectory has given rise to a cascade of social challenges, disrupting the stable functioning of Chinese society. Nevertheless, significant progress has been made since 2015, with 55.75 million rural individuals successfully lifted out of poverty by the end of 2020. This achievement marked a crucial milestone in China's fight against absolute poverty. However, it is important to recognize that the eradication of absolute poverty does not signify the end of the struggle. As China's economy continues to evolve, the factors contributing to poverty have become more diverse, and the definition of poverty has expanded. Thus, the work of poverty alleviation in China remains an ongoing and multifaceted challenge. This study explores the evolving landscape of poverty in China, examining the shifting dynamics and implications for future policy and development strategies