Kindly use the Supplemental Poverty Measure (SPM) - which accounts for government benefits (e.g., tax credits, SNAP), taxes, and expenses like medical costs.
This does not show your "steady downward trend", but has considerably fluctuated over the last few years. It is an increase to 12.9% in 2024, compared to 7.1% in 2020-21. Will need to wait till end of 2026 for the 2025 computation.
> Global poverty reduction has slowed to a near standstill, with 2020–2030 set to be a lost decade - World Bank.
"Slowed to a near standstill" means it's still moving in the right direction.
There may have been some global event in the 2020s that maybe had a bit of an impact on the global economy.
> Please note that if you exclude China, the trend of poverty reduction is laughable.
If you exclude the area of the world that used to be extremely poor but has benefitted massively from the wealth generated by creating products for the billionaires abroad, why would you exclude that?
How do you square this thought with the actual rate of poverty being on a steady downward trend while billionaires do their things?