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It makes us wonder whether in this context, globalisation is actually beneficial as the neoliberals claim. In fact, time has come to search for other viable alternatives, or if necessary, to modify globalisation in such a manner that it really helps to serve the poor and needy, and helps to remove all boundaries of inequality.
Executive Summary: A close look at the arguments presented by the neoliberal theorists will show us that in the past two decades there has been a marked decrease in the income inequality index factor and also a downward growth rate of the poverty factor, a great deviation from the picture that we have seen for a century and a half. Neoliberal arguments further explain that this improved picture is arising mainly from the globalization factor that is bringing about a fusion of economies throughout the world breaking all national borders and boundaries. A look at the economic conditions of the third world countries reveal that, nearly all of the South East Asian countries, especially China and India, have progressed rapidly with a fall in poverty rates. However the central and eastern European countries, comprising many of the former members of the Soviet Union republic, and the countries of the sub-Saharan belt have regressed and shown increased poverty levels. The Latin American countries are stagnant as far as their poverty graph is concerned; however the neoliberal argument says that globalization is here to stay, since after the break down of Bretton Woods, it has been generally concluded that it is more beneficial to have an converging system, instead of opting for interests that conflict and create barriers. This paper will explore and will take an in-depth look at the arguments put forward by the neoliberal theories, and will analyze the empirical basis for their arguments.
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(GLOBALIZATION POVERTY AND INEQUALITY Essay Example | Topics and Well Written Essays - 9000 Words)
“GLOBALIZATION POVERTY AND INEQUALITY Essay Example | Topics and Well Written Essays - 9000 Words”, n.d. https://studentshare.org/miscellaneous/1563984-globalization-poverty-and-inequality.
It has not just economic, but political and social dimensions to it as well. The term poverty is used in relative sense rather absolute. Attacking poverty requires a practical definition and a benchmark for measuring poverty. International organizations like United Nations (UN) have always been a key player in policy formation of poverty eradication.
There are one billion people in the 21st century who are unable to read books or sign their names. Jenkins (2007) adds that less than one percent of what the world spends every year on weapons can give a child education. One billion children live in poverty, 400 million have no access to safe water, 640 live without shelter and 270 million have no access to health services and approximately 10.6 million children die before they reach the age of 5 years.
In 1991, the richest 20% of people in the world grew in income levels to 85% of the global income, while the poorest 20% had incomes around 1.4% (Pieterse, 2002). Global inequality has been a significant problem throughout the world for a long time, and is influenced by many factors, including economic growth and decline (Sachs, 2001).
However, over the period of time, Globalisation has also resulted into widespread changes in the culture as well as other socio-economic variables also. Globalisation is essentially focused upon trade as well as capital flows and suggests that an open economy can benefit from the improved trade as well as capital flows as other countries try to improve their global trade.
After the Second World War many countries especially under colonial powers began to form their own centralized bureaucracies especially in most parts of what we call the Third World, nationalism under colonial education was wrought and with it intellectuals began to realize that they needed to form countries
Globalization has been defined as the collapse of time and space, but more detailed explanations distinguish between "interdependence of markets and production in different countries;" "(perception of) living and working in a world-wide context;" and a "process that affects every aspect in the life of a person, community or nation.
This paper will outline the relationship between globalization and global inequality and global poverty. In the process, it is expected that the forces that underpin globalization and the issues that concern the evolution of the global political system and the development of governance would be demonstrated.
is expected that globalization would bring a lasting solution to problems of poverty, illiteracy, inequality or health problems that beset the developing world. In contrast to the mainstream view, globalization is currently seen as a malignant force that result into increased
According to the report globalization is the effect of the subsequent phenomena: technological transfers, acceleration migration and the upsurge of the uninterrupted foreign investments, the extraordinary growth of the capitals markets, which require a greater free will of movement, and the evasion of the barriers to the global commerce.
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