> The Economist reports that, after years of dazzling progress in poverty reduction around the world, especially since 1990, poverty reduction and economic development in low-income countries have nearly ground to a halt since 2015
The poverty reduction in Asia was due to their industrialisation revolution. The growth in Africa was mostly a commodity cycle that's unlikely to come back. I'm oversimplifying here but that's the gist of it.
> The Economist reports that, after years of dazzling progress in poverty reduction around the world, especially since 1990, poverty reduction and economic development in low-income countries have nearly ground to a halt since 2015
The poverty reduction in Asia was due to their industrialisation revolution. The growth in Africa was mostly a commodity cycle that's unlikely to come back. I'm oversimplifying here but that's the gist of it.
Completely agree about the sunk cost fallacy.