The last 25 years of economic growth in the developing countries have produced a spectacular reduction in the percentage of the world's people living in extreme poverty. Fifty-two percent of people in developing countries were in extreme poverty at the start of the 1980s; the rate has fallen to 22 percent today.
In China alone, rapid economic growth resulted in a drop in poverty of 500 million people.
Despite this welcome progress, much more needs to be done. What at the core is the real challenge for these countries?