That is prosperity. It might not be perfect, yet, but it is in the right direction.
https://ourworldindata.org/extreme-poverty-in-brief
That doesn't mean that everyone is rich, but it is actually a really big deal. Next time you're tempted to write a phrase like "watching the world becoming ever more desperate" when talking about poverty, please take a moment first to remember that the opposite is true.
There is no path in the current Capitalist world order that will allow for a rise in the global south to current, western levels of development. The resulting increase in labor and resource costs would face immediate armed confrontation from the global north, as already happened with the myriad US-backed military coups during the past century.