Global Trends 2040

The COVID-19 pandemic halted global gains in living standards.

For the past several decades, global prosperity, living standards and longevity have increased, and the number of people living in severe poverty has fallen dramatically.However, the worldwide coronavirus pandemic undermined these trends. 

The pandemic particularly affected those who experienced the greatest gains in living standards in the previous decades. These same populations will feel the effects of economic strain and climate change acutely.

Dashed hopes and declining prospects have provoked dissatisfaction, cynicism and mistrust, even in advanced economies. 

Mistrust in institutions has produced heightened populism, identity politics, religiosity, nationalism, xenophobia and ethnic hatred. Even though vaccines may soon bring COVID-19 under control, its quick spread and severe impact revealed unresolved vulnerabilities stemming from the world’s increasing interconnectedness and interdependence. The pandemic pushed many institutions and governments to their limits. Distrust of government and its ability to...