The Banking Executive Magazine - January 2026 Issue

Toward Universal Prosperity At a time when geopolitical tensions, climate anxieties, and economic fragmentation dominate headlines, it is easy to overlook a fundamental truth: over the past century, humanity has achieved an extraordinary ex- pansion in prosperity. The scale of improvement in health, income, ed- ucation, and opportunity has few parallels in recorded history. For fi- nancial leaders and policymakers across the Arab world, this historical perspective is not merely academic. It provides a strategic framework for assessing what is possible over the coming decades—and what role emerging economies must play in shaping that outcome. A hundred years ago, global living conditions were starkly different. Life expectancy averaged between 30 and 40 years. One in three children did not survive beyond the age of five. Approximately 60% of the world’s population lived in extreme poverty, and literacy rates hovered near one-third. Economic stagnation had characterized centuries prior, with modest gains insufficient to ma- terially alter human vulnerability. The contrast with today is profound. Global life expectancy has risen to approximately 73 years. Extreme poverty has fallen below 10% of the global population. Literacy now ap- proaches 90%. Real per capita in- comes, which barely shifted for cen- turies, doubled in the 19th century and then expanded roughly sixfold between 1925 and the present. These figures represent more than statistical progress—they reflect ex- panded opportunity, greater re- silience, and broader participation in economic life. Yet progress remains incomplete. While extreme deprivation has de- clined, roughly 4.7 billion people still live below what some analysts describe as the “empowerment line”—a threshold beyond basic sub- sistence that enables individuals to ISSUE 205 JANUARY 2026 the BANKING EXECUTIVE 27 • UNIVERSAL PROSPERITY BY 2100 IS ACHIEVABLE. • EMERGING ECONOMIES WILL DRIVE GLOBAL EXPANSION. • GROWTH FUNDS ENERGY, RESILIENCE, OPPORTUNITY.