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In September 2018, the World Bank classified extreme poverty in 2015 as living on less than $1.90 a day at the 2011 purchasing power parity (PPP) and, although research and statistics show that poverty is in decline, this isn’t necessarily so for isolated populations around the world.
There are many factors to consider, both as stand-alone issues and from a collective vantage-point, that indicate more effort is needed on the great matter of global poverty that includes lessening its impact on Gross Domestic Product (GDP) around the world.
The essence of my first article centers on 2018 World Bank figures showing a downward trend in poverty with a forecast of further recovery going forward. However, these statistics are somewhat blighted by the fact that the global poverty rate is decreasing only half as quickly as previously experienced due to certain localized, weaker economies such as those found in Africa, in addition to war-ravaged countries like Syria and Yemen. Particularly of note is that while wealthier nations have been focused on sending aid to acknowledged, at-risk peoples, the bigger-picture of whole populations shifting into the realm of global poverty has not garnered adequate recognition.
My second article speaks to the problems of global poverty and climate change being linked and that in solving one, the other must also be solved. To give an historical brief, China is commended for its determination in developing their economy to be the second largest in the world in only 30-years and, in so doing, decreasing poverty levels significantly; but at a terrible expense to the environment in terms of pollution and its effects on global warming, together with the vast expense related to clean-up.
It is noted that, at the time of China’s economic push, clean, green energy was expensive and not as advanced as it is today, so options were limited with petroleum and coal being their energy sources of choice which fed greenhouse gas emissions and contributed to the global warming phenomenon.
Today’s developing countries are cautioned against following in China’s footsteps from an energy-generation perspective and are encouraged to use renewable energy as the core of their economic improvement. If these developing countries follow China’s imprudent example with inefficient industry and dirty technology, forecasters warn of droughts and famine, among other perils, which will directly and adversely affect Gross Domestic Product (GDP) on a global scale; for example, a 2ºC rise in world temperatures will affect the agricultural industry’s capacity to produce which equates to destabilizing more than a $750 billion contribution to GDP in the United States alone. Further, the author, believes that developed nations, such as America, should assist developing nations financially and technologically to build sustainable economies, learning from the sins of past experience with a view to negate or even reverse the effects of prior poor policy of established economies.
The third article highlights how global poverty, although declining in terms of overall statistics, is actually a problem of concentration and population explosion. To be more specific, in September 2018, the World Bank reported that extreme poverty was below 750 million people, a decrease of 1 billion people in 25-years. However, the report also confirmed that poverty had shifted geographically; although significant improvements have been realized in southern Asian territories, the sub-Saharan outlook has been less favorable where extreme poverty has increased dramatically from 278 million people in 1990 to 400 million people in 2018 due to population growth and instability in the region of not only civil war, but government corruption and destabilized economies.
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