British-born economist Angus Deaton of Princeton University answers questions in a news conference after winning the 2015 economics Nobel Prize on the Princeton University campus in Princeton, New Jersey October 12, 2015. (REUTERS/Dominick Reuter)
BEIJING, Oct. 16 (Xinhuanet) -- Angus Deaton is famous for not only winning the Nobel Prize in economics, but also his achievements in Chinese economy research.
He won the Royal Swedish Academy of Sciences award in economics by devising systems to understand consumption and poverty using household surveys and number crunching.
His book, "The Great Escape: Health, Wealth, and the Origins of Inequality," documented why the world is a better place to live than it used to be, according to the Wall Street Journal.
Below is a list of things Deaton said in his book about the massive shifts in China and India that are changing the world.
-- China and India are the success stories; rapid growth in large countries is an engine that can make a colossal dent in world poverty.
-- Although China and India are only two countries, their rapid growth at the end of the century meant that around 40% of the world's population lived in countries that were growing very rapidly.
-- At least over the past half-century the fast-growing countries in one decade have tended not to repeat their performance in the next or subsequent decades. Japan used to be the place that had perpetually high growth, until it didn't any more. China is the current long-run superstar.
