CCTV Transcripts

CCTV Script 15/10/19

— This is the script of CNBC's news report for China's CCTV on October 15, 2019, Tuesday.

Nobel economics prize has been here for 50 years since it was established in 1969, even though this one the "youngest" one, it is as important as other Nobel prizes. Economists Abhijit Banerjee, Esther Duflo and Michael Kremer won the 2019 Nobel Economics Prize with a prize sum of 9m Swedish kronor(around 910,000 USD).

Among them, Duflo becomes only the second female economics winner, as well as the youngest at 46, she shared this prize with her husband Abhijit Banerjee, becoming the first couple in the history of Nobel Economics Prize.

Compared to some sophisticated economics theory, the topic of this year's Nobel Prize winner's research is quite down to earth, which is also seen as a big challenge faced by people, that is poverty.

The global poverty rate has lost more than half since 2000, but in the developing areas, there are one tenth of people still struggle to live on the level of international poverty with 1.9USD per day, millions earn barely more than that on a daily basis, countries in east and south-east Asia have made great progress, but in sub-Saharan Africa, 42 percent still live below the poverty level, according to data from UN. Goran Hansson, secretary general of the Royal Swedish Academy of Sciences said in the press that the research conducted by this year's Laureates has considerably improved our ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research,.

Jakob Svensson

Member of the Nobel Committee for Economic Sciences

So what they've done is actually construct/come up with a new approach, simplest way to put it is to take a broad question such as why children stop leaning in school, and they break it down to many detail questions, and they try to answer these questions.

In 1992, United Nations set Oct 17 as International Day for the Eradication of Poverty, with this date coming, the award of Nobel reminds us that we need to do more on this issue. What's more, the award of this year's Nobel has more meaning, especially to economics itself.

Economists' research contributes a lot to global development. But <Financial times> pointed out that economists build a over-optimistic image of the world as they failed to expect financial crisis and ignored unbalanced development for a long time, and they get in an unrealistic model, so they can't see the world as it really is. This year's award shows the economics could really help to solve a broader society issues.

Esther Duflo

Winner of 2019 Nobel Economics Prize

"There are not very, Nobel Prize does not go to people who are mainly work on social problems, and so, being a woman working on social issues, I hope it can also be an honor for others to think, look, actually it's pretty interesting this field and much more value than you think"

There are totally 84 Nobel winners till now, but female winders are rare, as the second one, Duflo hopes her experience could encourage more females. Any thing new in next year's Nobel Prize? We'll see.