World poverty is falling. Between 1970 and 2006, the global poverty rate has been cut by nearly three quarters. The percentage of the world population living on less than $1 a day (in PPP-adjusted 2000 dollars) went from 26.8% in 1970 to 5.4% in 2006.
And this is notwithstanding an increase of world population by 80% over the same time. Somehow you never hear about this from the overpopulation hysterics.
The decrease in poverty rates is mostly thanks to China:
From 1970 to 2006, poverty fell by 86% in South Asia, 73% in Latin America, 39% in the Middle East, and 20% in Africa.