The Future of Development
Climate change, automation, demographics, and the evolving landscape of global development.
New Challenges
The next generation of development will be shaped by forces previous generations did not face:
Climate change: Developing countries — which contributed least to emissions — face the worst impacts. Rising temperatures, extreme weather, and sea-level rise threaten agriculture, infrastructure, and habitability. The World Bank estimates climate change could push 130 million people into poverty by 2030.
Automation and AI: The traditional development path — moving workers from farms to factories — may be closing. If automation reduces demand for low-skill manufacturing labor, how will countries like Bangladesh and Ethiopia industrialize?
Demographics: Sub-Saharan Africa's population is projected to double by 2050. A 'demographic dividend' is possible if countries can educate and employ their young populations — but a 'demographic time bomb' if they cannot.
Debt again: Many developing countries took on new debt during COVID-19. Rising global interest rates and Chinese lending have created new debt sustainability concerns.