The World Bank reports that fewer people are living in poverty (defined as less than the regionally adjusted and proportional figure of $1.90US a day). Economist Max Roser reports that poverty has fallen by 20% since 2010 to 10% of the world's population, which is around 200 million people. Though that is still too many poor people and the situation urgently calls for a solution, it is certainly a substantial improvement. Human expectations and demands are on the rise as quality of life has gradually improved due to technology, democratization, cultural (reproduction) and health have progressed. To compare, only a tiny portion of the world's elite escaped poverty in the early 19th century.
GLOBAL MONITORING REPORT | 2015/2016
This year’s Global Monitoring Report, produced jointly by the World Bank and International Monetary Fund, details the progress the world has made towards global development goals and examines the impact of demographic change on achieving these goals.
The report details the decline of those living in global poverty, which is reclassified as living on $1.90 or less a day, to a forecast 9.6 percent of the world’s population in 2015 -- a projected 200 million fewer people living in extreme poverty than in 2012. It also revises world economic growth projections for 2015 down to 3.3 percent on the basis of lower growth prospects in emerging markets.The Global Monitoring Report also analyzes how profound demographic shifts could alter the course of global development. The world is undergoing a major population shift that will reshape economic development for decades. The direction and pace of this transition varies dramatically from country to country, with differing implications depending on where a country stands on the spectrum of aging and economic development, the report said.“With the right set of policies, this era of demographic change can be turned into one of sustained development progress,” said World Bank Group President Jim Yong Kim. To accelerate gains, the report says, development policies must take into account this altering landscape. Depending on the circumstances, this means that countries need to spark their demographic transition, accelerate job creation, sustain productivity growth, and adapt to aging.