Reduced Poverty

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Reduced poverty, particularly extreme poverty, has been a significant global achievement over the past few decades. Globalization has played a crucial role in this reduction by facilitating economic growth through increased trade and foreign investment. As countries integrate into the global economy, they often experience higher growth rates, which can lead to improved living standards and increased access to goods and services. This integration has been instrumental in reducing the number of people living in extreme poverty from 1.93 billion in 1991 to 659 million in 2018. However, the impact of globalization on poverty is complex and varies across regions and communities. While it has contributed to overall economic growth and poverty reduction, some areas, such as sub-Saharan Africa, have seen less progress. Additionally, financial crises and market fluctuations can adversely affect vulnerable populations. Complementary policies, including investments in human capital and infrastructure, are essential to ensure that the benefits of globalization reach all segments of society. Despite these challenges, the reduction in extreme poverty remains a notable success in global development efforts.