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I wouldn't call China's sweat shops, devastated environments and mass-suicides at chip factories a glowing example of economic development going right. But maybe that's just me. I don't believe that "raising all the boats" works. The water level has been rising so long. Somehow, it's still a few people in really fancy boats and a whole lot of people swimming for their lifes or simply drowning.The extreme poverty rise in the US is a policy problem, not an economics problem.
[citation needed]World wide extreme poverty has been plummeting over the last two decades, mainly as a result of more liberal trade policies in Asia.