That's actually how actual capitalists see it: they need poverty present in an economic system so there's always a churn of surplus labor to exploit.
There is another side to this where they credit this poverty alleviation to the neoliberal economic system and lump China's contribution to this statistic with the rest of the world's to try and make it look like the world is improving under their auspices.
Over the last half decade or so they have dumped all pretense of wanting to tackle poverty and now it is just constant warmongering against the sinister asiatics and the orientals so lifting people out of poverty is not cool and hip anymore and the steven pinkers of the world are out of their jobs.
so lifting people out of poverty is not cool and hip anymore
It never were. Literally all poverty lifting under capitalism is the function of drastically increasing production and technical progress (and of course imperialism) and yet nearly all fruits of those had been redistributed to ruling classes. In other word it was never at any point purposeful, except maybe when they did concession in fear of workers power and that was forced.
Robert Owen all those years ago wondered where all this wealth go if the work of 100000 is done by 1000 and those 1000 live even worse than those 100000 before.
My point was that at one point the adults in the room would show you the chart of the percentage of population living on under $1.5 a day (the poverty line decided by IMF) over time and gaslight you into believing that conditions were improving but they don't even try to do that anymore.
Yeah the gaslighting was all that ever was about it.
And a threat to workers: "be nice or else..."
Kiss the billionaires' asses or else they'll evade more taxes, just you wait. 
That is the trick of Capitalists to suddenly provide justification to social problems when their mismanagement are exposed. The irony is that the Capitalists are justifying that very problems that they say are unacceptable in Communist countries like poverty, inequity, corruption, anti-terrorist terrorist massacre, authoritarian government intervention, torture, and coered confession to crimes (from the debunked claim that a person will never confess to a crime that they had never commited).
C'mon ppl, why aren't you alle asking the most obvious question if it is about China? Remember, if it is about China, you have to ask at what cost?. It has the same importance as brushing your teeth every day. If you read something about China, imagine the "at what cost?" line after every sentence
That is a good question. The racist white elites in the Western European diaspora need to send their fellow white people into poverty to import enormous number of people of color to replace the depleted supply of Indigenous child slaves in Residential fake school death camps that secretly continued after 1997 and to generate revenue to replace the depleted stolen inheritance of abducted Indigenous children from the fake cultural assimilation programs. If China did successfully reduce poverty like other Communist countries, then the cost are the lost of potential source of child slaves from Aboriginal families, the loss of stolen inheritance from fake cultural assimilation projects, and the paranoia fear mongering in Pax Americana about hard working innovation scary red masterminds who the invisible hand is smuggling into key positions of Capitalist societies.
Did you know that Chy-na forces people to drink water?! But at what cost!?
I found a YouTube link in your post. Here are links to the same video on alternative frontends that protect your privacy:
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