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Review: Globalization and the Least Developed Countries Potentials and Pitfalls by David Bigman - Book Report/Review Example

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Clients Name Name of Professor Name of Class Date Globalization and the Least Developed Countries: Potentials and Pitfalls, by David Bigman: A Book Review Globalization and the Least Developed Countries: Potentials and Pitfalls, by David Bigman discusses the nature of poverty and the problems and opportunities that the world has to offer where an ever increasing globalized world is imposing upon cultures, but also bringing possibilities for economic growth…
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Book Review: Globalization and the Least Developed Countries Potentials and Pitfalls by David Bigman
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Review: Globalization and the Least Developed Countries Potentials and Pitfalls by David Bigman

Download file to see previous pages... In discussing the problems associated with the development of nations to enter into the economic globalized world, he is highly critical of the developed nations and their imposition upon LDCs through disguising economic take over in the form of free trade. Through the exploitation of resources and labor, large corporate entities are rising like monsters against the innocent villagers, creating an oppression that is disguised as freedom. The issue of poverty is contrasted to the power of globalization of corporations, in that high levels of wealth have been made but that the world still has approximately one billion people in poverty, most of which reside in LDCs, particularly the sub-Saharan area of Africa and in Asian nations which includes countries such as Vietnam and Bangladesh. While intending to discuss the positive and negative aspects of globalization, Bigman makes it clear that the overall result of globalization has been to see a rise in the division between the poor and the rich, thus creating deeper and more disconcerting poverty that is affecting populations by stripping their resources and labor, while not providing them with the resources to advance in return. The arguments that are presented by Bigman are defined by the rise of economic powers over the decline of ideological political power. Through an examination of the changes that have occurred in the structure and the methods of organization of world trade, the dominance and “monopolistic power of transnational corporations” is shown to have created a change from economic dominance by the United States and Europe to a more globally distributed position of power which now include China, large Latin American countries, and India, with Russia to soon join that grouping. In examining the future potentials, which include both positive and negative aspects, the book provides insight into the impact on LDCs through the new world order that has evolved through the emergence of a global economic structure. The changes that have emerged through globalization are that “globalization not only revolutionized the structure and methods of production and communication and transformed the lives of millions around the world, but also ushered in a new era of evermore rapid changes both in the methods of production and in the organization and management” (Bigman 2). This will have an effect on every member of the world, thus creating a shift in the structure of human interaction and cultural collision. Bigman contends that the changes in the relationships that cultures are now developing with one another will have an impact, raising the standard of living of many populations throughout the world. As some populations are brought into the fold of higher standards of living, many others will see a widening gap between the rich and the poor, greatly increasing poverty and devastating local economies that cannot or do not well adapt to the globalization process, which will be located in LDC regions. Another type of evidence that Bigman presents is that while on paper the economic theories of free trade and globalized economies work well, in reality the nature of the development of free trade on a global basis has ...Download file to see next pagesRead More
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