The majority of Chinese and Indians have been peasants forever, you don't think they have the right to running water, toilets and refrigerators too?
Put the blame where it belongs, on our stupid government and politicians.
Actualy our government is not to blame to the extent you would like.
The truth is, just like you note, much of the world that used to just be a source for raw materials because the people in those places had little use for them themselves are now becoming major consumers.
For almost 100 years the United States has been the primary consumer of resources in the world with a little competition from Europe and Russia.
That is all changing now, and third and second world nations are mirroring our lifestyles and becoming major consumers themselves.
Places that once had little use for thier own resources and were major sources for us now want not only many of thier own resources but other resources as well.
Our local economic issues are only a minor part of it.
Things will continue in this direction and many of the current nations that have the best quality of life will find thier average quality of life decrease significantly as thier is a lot more demand for once cheap abundant resources taken for granted.
Good economic decisions can slow that, but they cannot stop it. Quality of life is going to drop, and continue to drop for years to come, while it raises for places it was once very low.
There will be periods of slower drop in quality of life (the ups) and periods of faster drop in the quality of life (the downs) in the roller coaster ride for decades to come, but the general direction will be down for us.
You are simply seeing more world equality
the results of modernizing those poor third world nations.