Policy: Economy

Bill Gates sees no poor countries left by 2035 in annual letter

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Economy,Bloomberg News,Poverty,Bill Gates

Bill Gates, the world’s richest man, said that by 2035 no nation will be as poor as any of the 35 that the World Bank now classifies as low-income, even adjusting for inflation.

In an annual letter published today on the website of the Bill & Melinda Gates Foundation, Gates said that most countries will have higher per-person income by 2035 than China does now. He argued against what he said are “three myths” that block progress for the poor: poor countries are doomed to stay poor; foreign aid is a big waste; and saving lives leads to over-population.

“The belief that the world is getting worse, that we can’t solve extreme poverty and disease, isn’t just mistaken. It is harmful,” Gates wrote. “By almost any measure, the world is better than it has ever been. In two decades it will be better still.”

The Gates Foundation has distributed $28.3 billion in grants since 1997 to fund projects in global health and development and education programs in the U.S., according to the organization’s website.

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