Poverty is on the retreat. Despite the global economic downturn, the number of people living in extreme poverty has dropped in every region of the world for the first time since record keeping began. Though progress on the UN’s Millennium Development Goals has been uneven, we should be heartened that we have already reached the first of these eight goals – that of halving the number of people living on less than $1 a day. However, we risk allowing these gains to come undone if we fail to strengthen the rule of law in developing countries.
© The Financial Times Ltd 2014 FT and 'Financial Times' are trademarks of The Financial Times Ltd.