Half of poorest countries retard as rich nations attain record human dev't- UNDP

Uneven development progress is leaving the poorest behind, exacerbating inequality, and stoking political polarization on a global scale resulting in a dangerous gridlock that ought to be tackled but only through collective action recommends the 2023/24 Human Development Report (HDR), titled “Breaking the Gridlock: Reimagining cooperation in a polarized world", reveals a troubling trend: the rebound in the global Human Development Index.

Rich countries are experiencing record-high levels of human development while half of the world’s poorest countries remain below their pre-crisis (COVID 19) level of progress.

Global inequalities have been compounded by substantial economic concentration with almost 40% of global trade in goods being concentrated in three or fewer countries.

In 2021 the market capitalization of each of the three largest tech companies in the world surpassed the Gross Domestic Product (GDP) of more than 90% of countries that year.

Further more, the report details that the failure of collective action to advance action on climate change, digitalization or poverty and inequality as well not only hinders human development but also worsens polarization and further erodes trust in people and institutions worldwide.

Onto matters democracy, the report argues that advancing international collective action is hindered by an emerging ‘democracy Paradox. while 9 in 10 people worldwide endorse democracy, over half of global survey respondents express support for leaders that may undermine it by bypassing fundamental rules of the democratic process, as per data analysed in the report.

Half of people surveyed worldwide report having no or limited control over their lives, and over two-thirds believe they have little influence on their government's decisions.