The future of work and the future of poverty are closely bound up with each other.
Global value chains, those webs of firms criss-crossing the world that collectively bring products to market, have driven economic growth since the 1980s. According to the World Bank, they have enabled many countries in the Global South to transition from low-income to middle-income status within the past few decades.
For example, 100% of South Asian countries were categorised as low-income in 1987. In 2023, it was just 13%. The rest had transitioned to a higher status. As of 2024, the World Bank defines middle-income countries as those with a gross national income per capita between $1,136 and $13,845.
