Former Fed Chairman Alan Greenspan:

Global economic growth has brought “hundreds of millions” of people out of abject poverty, particularly in Asia, the former Fed chief pointed out, and that has been the result of market forces at work.
“The most extraordinary example is China. China is moving towards capitalism. that’s precisely what it’s doing,” Greenspan said. Nevertheless, Greenspan argued, rising inequality of income is creating new problems, and declining U.S. education standards, especially in math and science, are doing harm to the historic “balancing” of income levels.