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What is the relationship between globalisation, poverty and inequality - Essay Example

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The essay describes what must be underscored with the evolution of globalization. Today it has so permeated the globe that it became the international system that strongly influences domestic politics as well as the foreign relation policies of virtually every country…
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What is the relationship between globalisation, poverty and inequality
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Download file to see previous pages The essay "What is the relationship between globalisation, poverty and inequality?" aims in showing that globalization operates in specific contexts and is still influenced by policy interventions on national and transnational levels. Furthermore, poverty and inequality has been an offshoot of human development starting from the rapid human industrial activity. If one looks at the current problems produced, the solutions lie not in the replacement of the economic model but in correcting the flaws. For example, international rights and standards must be established or the enforcement of code of conduct that would govern international corporations and institutions. The essay describes that it is important to underscore that globalization is an evolving phenomenon. The problem that produces inequality, (i.e. the tariff reduction and subsidies on certain industries) are still being discussed and negotiated by countries, undermined by the influence of industrialized economies and the independent bilateral and multilateral trade agreements that are consequences of politics and client. Presently, these still remain as agenda languishing on bargaining tables.
The flaws of globalization are not fundamentally structural. Instead, most of it comes from the failure of states to commit to the idea that it espouses. Countries, especially the rich economies, are still resistant to eliminate trade barriers, opting to protect domestic industries. Then, there is the lack of a governing mechanism that would regulate the conduct of multinational corporations to prevent their excesses and made them accountable for their acts and force them to follow international standards - not just in the context of business, production, wage, human rights, - but also in the area of ethics.

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