August 21, 2002 — Over the course of the next 50 years, the world will see a fourfold increase in the size of the global economy. Its population will reach 9 billion people, the majority of which will be living in cities for the first time in human history. Dealing with this evolution poses both a tremendous opportunity, as well as a great challenge. In its new World Development Report, the World Bank warns that the current consumption and production rates will lead to social and environmental strains which can severely derail development progress. Unless policies and institutions are improved, the world of 2050 will be one of higher poverty levels and poorer quality of life for everybody.
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