Good point. We actually already have abundance, even going as far back as twenty years ago. The EU produced so much food that a term was coined "wine lakes and butter mountains", as so many agricultural goods were left rotten in warehouse storage.

These food produce could be sold or sent to poorer countries or elsewhere. However, doing so would "upset" the market, and to be fair outcompete local farmers in developing countries. We've actually solved world hunger long ago!

I think for an equitable solution, there has to be a global single market and/or world government to manage resources. And before anyone objects says "1984" or as predicted, communism wants to take over the world indeed, no, I'm not positing a totalitarian state. Just think how the EU is not a fully authoritative institution, but more like a loose agreement of different countries. That could be replicated on the global level to manage the abundance we have and achieve some sort of socialism.