I think the answer is that both are true. Seen globally, things are clearly improving over time. But the same changes are having unintended local consequences that are upsetting. A couple of examples: globalization of the labor force has lifted billions of people out of extreme poverty, which is certainly a good thing. But that has weakened the working class in industrialized countries, which has given rise to authoritarian populist movements. At the same time, inequality among countries has declined, while inequality within countries is growing.
I am most concerned about climate change, which is being driven in part by the modernization efforts that are responsible for many of the global improvements on other dimensions. Secondarily, the erosion of the post WWII international order may be undermining the structures that were responsible for the progress of the past fifty years. Both of these processes are gradual, but the cumulative effect could be far greater than any of the day-to-day disasters that we have become accustomed to. My greatest fear is that we have become so complacent that we will not react in time--that certainly seems to be path we are on, and I don't see what's going to change it.