What is the main point of this article ?(essay minimum of 1000 characters including spaces?An Extra Ordinary MomentTwo pictures of the developing world compete in the media for the public's attention. The first is misery in places like rural Africa or unsanitary and overcrowded urban slums in South Asia. The second is extraordinary dynamism in places like coastal China. Both pictures convey important parts of the great development drama. Living conditions are improving significantly in most, though not all, parts of the globe-if sometimes slowly and unevenlyThe cumulative effect is that economic development has been giving rise to unprecedented global transformations. Consider the world of 1992, a time when the divide between the nch developed nations and the low-income developing nations was apparently widening Rich countries were growing faster than poor countries, and the dominance of high-income Industrialized nations in the global order was clear-cut.Yet in 1992, many developing nations, including Brazil,Russa, India, China, and South Africa (now sometimes grouped by the media as the "BRICS"), found themselves in dangerous conditions if not full-scale crisis. Braze-like most af Latin America-was still struggling to emerge from the1980s debt crisis. Russia was descending into depression after the collapse of its Soviet economy India was trying to rebound from its worst economic crisis since independence. China had launched its period of veryrapid growth, but the 1969 massacre in Tiananmen Square was a fresh memory and future prospects for reform and growth in China were uncertain, Meanwhile, the end of apartheid was still being negotiated in South Africa, while the continent as a whole was entering its second consecutive lost decade of slow economic growth, and pessimism prevailed Despite pressing development needs, there were widespreadconcerns that with the end of the Cold War, the nich world would lose interest in development assistance.And at the 1992 Earth Summit, while the world was taking its first tentative steps to acknowledge and try to restrain climate change due to global warming, almost no one imagined that 20 years later China and India would be among the top three greenhouse gas emitters But since 1992, we have moved from a sharp dualism between a rich Center and backward Global South periphery to more dynamic and complex relationships Asia has been growing at an average rate almost triple that of high-income Westem countries, and growth has returned to Africa, heralding the promise of an era of global convergence. The scale of transformation is immense, Health has improved strongly, with dramatic declines in child mortality, and the goal of universal primary education is coming into sight. Poverty has fallen. While about two-fifths of the global population livedUn extreme poverty in 1990, the fraction has fallen to about one-fifth today The number of people living in extreme poverty in China (on less than $1.25 per day) fell from about 743 million in 1992 to 157 million in 2009, india has seen substantial if lessdramatic, reductions in poverty, social programs in Brazil such as Bolsa Familia have helped substantially reduce the country's once uncontrollable poverty problems. The enormous growth of innovations such as mobile phones and of availability of credit for small enterprises have led to benefits and fueled a new optimism.At the same time, the future of economic development and poverty reduction is far from assured-many people who have come out of poverty remain vulnerable, the natural environment is deteriorating, and national economic growth remains uncertain. Economic development is a process, not of years, but of many decades. After the 2011 media celebration of the "BRICS economic growth, there were reminders that the process remains uneven and uncertain.In Brazil economic growth fell from a spike of close to 7.5% in 2010 to under 1% in 2012 Growth in India, topping 10% for the first time in 2010, fell to barely a third that level in 2012. Growth in China fell from over 10% in 2010 to below 8% in 2012 with projections of a permanently slower pace of perhaps 7% in 2012 growth in South Africa was little more than 3%. Growth per person was slower as populations continued to grow. When financial markets were unsettled during the summer of 2013, many investors started. withdrawing money from these and other developing countriesMeanwhile, many in the development community were dismayed by a 2013 report showing the number of people living in poverty in Africa had yet to decline, and the average income of those remaining poor had still not risen above its long-term level of just 70 cents per day. And climate change talks also launched in 1992. proceeded at a snal's pace. even as greenhouse gas emissions reached record levels and the impacts of climate change had become all too visible in low-income countries, threatening to reverse progress in South Asia as well as AfricabBut while optimism that other countries could soon match China's historically high growth rates dimmed, nonetheless the potential for dramatic catchup remained as bright as everRealism is needed-both about the intimidating challenges and the exciting opportunities. Gains for the developing world in recent years have been genuine and substantial cases transformative-with many developing steadily closing the gap with the developed work 13-16/45 in health and education, and very often in income remain strong in coming years, particularly for middle-income countries; yet the high unpredictability of growth is just one hint at the remaining broader development challenges, as we will examine throughout this text We will study and explain what lies behind the headline numbers and the sweep development patterns, presenting the necessary analytic tools and the most recent and reliable data-on challenges ranging from poverty to international finance. To begin, even today many of the world's poorest people have benefited little. If at all from the new global prosperity.

1. What is the main point of this article ? (essay minimum of 1000 characters including spaces? An Extra Ordinary Moment Two pictures of the developing world compete in the media for the public's attention. The first is misery in places like rural Africa or unsanitary and overcrowded urban slums in South Asia. The second is extraordinary dynamism in places like coastal China. Both pictures convey important parts of the great development drama. Living conditions are improving significantly in most, though not all, parts of the globe-if sometimes slowly and unevenly The cumulative effect is that economic development has been giving rise to unprecedented global transformations. Consider the world of 1992, a time when the divide between the nch developed nations and the low-income developing nations was apparently widening Rich countries were growing faster than poor countries, and the dominance of high-income Industrialized nations in the global order was clear-cut. Yet in 1992, many developing nations, including Brazil, Russa, India, China, and South Africa (now sometimes grouped by the media as the "BRICS"), found themselves in dangerous conditions if not full-scale crisis. Braze-like most af Latin America-was still struggling to emerge from the 1980s debt crisis. Russia was descending into depression after the collapse of its Soviet economy India was trying to rebound from its worst economic crisis since independence. China had launched its period of veryrapid growth, but the 1969 massacre in Tiananmen Square was a fresh memory and future prospects for reform and growth in China were uncertain, Meanwhile, the end of apartheid was still being negotiated in South Africa, while the continent as a whole was entering its second consecutive lost decade of slow economic growth, and pessimism prevailed Despite pressing development needs, there were widespreadconcems that with the end of the Cold War, the nich world would lose interest in development assistance. And at the 1992 Earth Summit, while the world was taking its first tentative steps to acknowledge and try to restrain climate change due to global warming, almost no one imagined that 20 years later China and India would be among the top three greenhouse gas emitters But since 1992, we have moved from a sharp dualism between a rich Center and backward Global South periphery to more dynamic and complex relationships Asia has been growing at an average rate almost triple that of high-income Westem countries, and growth has returned to Africa, heralding the promise of an era of global convergence. The scale of transformation is immense, Health has improved strongly, with dramatic declines in child mortality, and the goal of universal primary education is coming into sight. Poverty has fallen. While about two-fifths of the global population lived Un extreme poverty in 1990, the fraction has fallen to about one-fifth today The number of people living in extreme poverty in China (on less than $1.25 per day) fell from about 743 million in 1992 to 157 million in 2009, india has seen substantial if lessdramatic, reductions in poverty, social programs in Brazil such as Bolsa Familia have helped substantially reduce the country's once uncontrollable poverty problems, The enormous growth of innovations such as mobile phones and of availability of credit for small enterprises have led to benefits and fueled a new optimism. At the same time, the future of economic development and poverty reduction is far from assured-many people who have come out of poverty remain vulnerable, the natural environment is deteriorating, and national economic growth remains uncertain. Economic development is a process, not of years, but of many decades. After the 2011 media celebration of the "BRICS economic growth, there were reminders that the process remains uneven and uncertain. In Brazil economic growth fell from a spike of close to 7.5% in 2010 to under 1% in 2012 Growth in India, topping 10% for the first time in 2010, fell to barely a third that level in 2012. Growth in China fell from over 10% in 2010 to below 8% in 2012 with projections of a permanently slower pace of perhaps 7% in 2012 growth in South Africa was little more than 3%. Growth per person was slower as populations continued to grow. When financial markets were unsettled during the summer of 2013, many investors started. withdrawing money from these and other developing countries Meanwhile, many in the development community were dismayed by a 2013 report showing the number of people living in poverty in Africa had yet to decline, and the average income of those remaining poor had still not risen above its long-term level of just 70 cents per day. And climate change talks also launched in 1992. proceeded at a snal's pace. even as greenhouse gas emissions reached record levels and the impacts of climate change had become all too visible in low-income countries, threatening to reverse progress in South Asia as well as AfricabBut while optimism that other countries could soon match China's historically high growth rates dimmed, nonetheless the potential for dramatic catchup remained as bright as ever Realism is needed-both about the intimidating challenges and the exciting opportunities. Gains for the developing world in recent years have been genuine and substantial cases transformative-with many developing steadily closing the gap with the developed work 13-16/45 in health and education, and very often in income remain strong in coming years, particularly for middle-income countries; yet the high unpredictability of growth is just one hint at the remaining broader development challenges, as we will examine throughout this text We will study and explain what lies behind the headline numbers and the sweep development patterns, presenting the necessary analytic tools and the most recent and reliable data-on challenges ranging from poverty to international finance. To begin, even today many of the world's poorest people have benefited little. If at all from the new global prosperity