by Xinhua writer Liu Yanan

NEW YORK, Oct. 8 (Xinhua) -- China's practices in economic growth and poverty elimination are exemplary and have proven that the UN Sustainable Development Goals (SDGs) are attainable, as the Belt and Road Initiative (BRI) helps achieve the goals, said an American expert.

China's economic success over the past two generations has offered valuable examples for other countries, said Lawrence Freeman, a U.S. political-economic analyst for Africa, who has been involved in economic development policies for Africa for over three decades.

The world faces enormous challenges in reaching the SDGs by 2030 with approximately 800 million people living in extreme poverty worldwide, Freeman said in a recent interview with Xinhua.

In Africa alone, approximately 440 million people live in extreme poverty, slightly less than one third of its population, while poverty continues to increase, said Freeman.

"However, the good news is that China, over the course of two generations, has completely transformed its economy, eliminated extreme rural poverty and leads the world in infrastructure-led physical economic growth. China has proven that it can be done," he said.

China, with its unwavering commitment to the development of the nation, and its mastery of effective economic governance, has proven to the world that the SDGs can be achieved, he noted.

The Global Development Initiative proposed by China in September 2021 articulates the most important essential concept of development to be understood by all nations, and the BRI and the growth of the BRICS have provided vital input and made on-the-ground contributions to achieving the SDGs, Freeman said.

China's key role in the Global South has been invaluable in driving the world forward in economic progress, he said. "We must recognize that the future of the planet lies in the development of the Global South."

The BRI has attracted needed investments in infrastructure throughout the developing sector, which the West has refused to offer, said Freeman.

In Africa, the BRI has been a primary contributor to the construction of hard infrastructure projects, particularly in the generation of electricity, railroads, ports and airports, he said.

Moreover, Freeman called for the creation of a new paradigm devoted to achieving economic progress in every country.

As part of the efforts, he proposed to eastablish a new international credit institution to provide sufficiently long-term, low-interest credit for investments in infrastructure.

The latest UN data show that only 36 percent of the SDG targets with available trend data are on track or making moderate progress, while 15 percent have regressed.

The UN 2030 Agenda for Sustainable Development was adopted in 2015, with 17 SDGs at its heart.