Between 1970 and 2008, the world’s output of goods and services quadrupled and growth extended to virtually all regions of the world, while the number of people living in extreme poverty in developing countries dropped from 42 percent of the total population in 1993 to 17 percent in 2011. The percentage of children dying before their fifth birthdays declined from 22 percent in 1960 to less than 5 percent by 2016.2
Globalization
