Impact of Driving Forces of Globalization

For individuals in very poor and economically unstable countries, globalization tends to do more harm than good. Through the economic, political and cultural examples stated above, globalization has not aided these countries climb out of poverty, develop an influential government or have a strong cultural identity, in fact, it has done the exact opposite. L’Huillier quotes Charles Darwin, “if the misery of our poor be caused not by the laws of nature, but by out institution, great is our sin” (2017 381). The business model that globalization suggests is an unattainable utopia for those in developing countries. These traits of poverty and war have always existed yet, many of today’s countries are the way they are because of the models that are favored and paraded under globalization

At the moment, the whole world is being swept by globalization at a speed that is both immense and inescapable. The present scenario can be associated with that water glass which is considered as half-empty by the pessimist and is viewed as half-full by an optimist. The Internet has empowered cultural globalization tremendously. It has initiated an environment that is globally borderless. If the impact of internet on cultural globalization is judged, one would crystal-clearly observe that it has made nations realize their potentials and strength. Its usage has created new and additional wealth worldwide by eliminating cultural differences ("Creating Wealth in a" 2006, p. NA).

Within the last 60 years, Third World development has been a global priority, at the top of virtually every Western agenda. And with the rise of the global population and poverty levels continuing to rise along with it, it is very easy to see why human development is becoming such a topic of focus and discussion among members of the academia. But one question that everyone wants the answer too is, how does Third World development fit into Globalization? Despite apparent compatibility, when closely examined it is clear to see that Globalization actually contradicts Third World development due to the conflict of agendas. Both Globalization and Development hold views concerning market reform, social structure and regulation, which are

One question that has been caused a lot of controversy over the years is whether or not globalization has more positive effects than negative effects. Globalization is a complex subject, so it is necessary to analyze the principal impacts on society before coming to any conclusions. On the one hand, developing countries which consume global products, globalization has positive impacts as well as multinational companies that establish new markets. On the other hand, some specialists say that globalization harms workforce and environment. This essay is going to approach one aspect of globalization in which multinational companies transfer investments from developed to developing countries and, as a consequence, it increases unemployment, social inequality, and pollution.

In the context of globalization, or interaction between people, companies, and governments of different countries driven by international trade, global inequality matters because it parallels the asymmetrical globalization that limits poor countries. This asymmetry only increases the gap between rich and poor countries. Low-income countries have little opportunity to improve because they have inadequate means and opportunities. Inequality affects both economic and social growth and poverty. For low-income countries, the inequality is reflected in poor social and civic institutions. These incapable institutions, in turn, do little to improve conditions. Global market failures and

The impact that globalization has and will have on the U.S economy continues to be one of the most debated economic issues of our times. Many people believe that due to the international trade there are less jobs and lower wages for people. International trade is important to the America economy, and to the economy of the world as whole, because neither the United States nor any other country in the world has everything that its people need and want. Globalization and international trade, come with a brighter view of the international trade and it has positive impact on economic growth of the United States.

“Globalization increases poverty” is a typical statement created by critics of globalization. In the past century, a substantial number of developing countries have struggled with economic growth. Globalization plays an essential role in the economy as it assists in elevating the GDP of the country in questions and consequently leading to the diminished poverty level. This research seeks to address the following fundamental concepts/ questions: what impact does globalization has in developing countries in matters pertaining poverty reduction? The paper's structure is as follows. The first section outlines the definition of globalization. The second section evaluates technological advancement through reduction of poverty on globalization. The third section explains the essential meaning of trade liberalization and the influence on development in Periphery countries. The fourth section presents foreign direct investment linkage in globalization and poverty. The fifth section explores the processes of development motives. The sixth section presents a case study that is primarily connected to globalization impact on developing countries. Lastly, the seventh section explains the impact of globalization on economic policy on developing economies.

f the theories concerned with globalization and poverty suggest that globalization has been related to rising inequality between people and nations, and that the poor do not always share in the gains from trade. Some scholars in the international affairs arena like Collins and Nathan have suggested that globalization has a tremendous influence on economic development. Nathan argues for example that due to globalization, 800 million Chinese people have been pulled out of poverty (P.8 Nathan, 2016). Other scholars such as Collins disagree with the previous statement and indicate that globalization has made the middle and lower classes of advanced industrial countries like China unhappy and in addition, it has increased global inequality between and within countries. According to Collins, The UN Development Program reports that the richest 20 percent of the world’s population consume 86 percent of the world’s resources, while the poorest 80 percent consume just 14 percent (P.5 Collins, 2015). In addition, many scholars have emphasized the negative effects of economic liberalization with relation to poverty figures. Some argue that globalization has not helped people out of poverty, but has moved more nations into poverty. As a result, globalization poses a threat to development and equality and increases disparity between people (P.7, Stiglitz 2002).

Globalisation is the process of the world becoming increasingly integrated economically. China has implemented several strategies to promote economic growth and development in response to globalisation which are Free Trade Agreements (FTAs), the ‘open door policy’ and the liberalisation of capital accounts. Free Trade Agreements through trade of goods and services, the ‘open door policy’ by encourage investment from Transnational Corporation (TNCs) and Capital Account Liberalisation has been implemented to promote economic growth and development These three strategies have resulted in positive and negative influences on China’s promotion of economic growth and development in response to globalisation.

The modern globalized world has been greatly affected by the increased economic exchange between nations. The present construct of politics and social stature is in essence the product of this globalization. Globalization is the international integration or interaction of resources which comes from the exchange of products and ideas between nations (Globalization n.d.). The process of globalization is mainly caused by economic exchange. This exchange can range from the trade of materials, to investment of money in foreign banks, and to the technology which has given rise to a more interconnected world. Consequently globalization can be seen have a great influence on not only the political powers which govern the economic exchange but also on the social inequality that exists due to globalizations vast effects on both physical and biological factors of our current environment such as culture, environment, economic development, and the human condition (Globalization n.d.). Therefore although there has been much improvement and change in modern society due to increased economic exchange its primary goal is not to lend happiness or protect human rights but to benefit both private investors and high government official which control political power by increasing their own wealth. By solely aiding those already in power and those that possess wealth, economic exchange due to globalization keeps poverty levels high and generates social inequality.

Lack of development in countries in the so-called `Third World' has many political and economical reasons. Historians explain the inadequacy of developing countries with the early imperialism and the resulting colonization of the South. Exploitation of mineral resources, deforestation, slavery, and the adaptation of foreign policies shaped the picture of today's suffering and struggling civilizations and natural rich continents. The omission of concessions and equal negotiations between dependency and supremacy give rise to the contrast of enormous resources and immense poverty in developing countries is. In the last years the outcry of justice and the emancipation of the Third World became louder throughout developing and industrialized

Across the world, globalization is one of the most significant aspects that has occurred over the last fifty years. It allows a country to integrate economically with other countries through a global network comprised of people, trade, and transportation. With the global landscape only becoming more intertwined, globalization and its inherent pros and cons seem to be here to stay. In many areas, global powers tend to lack in rectifying the negative aspects and only focus on the positive side. America, for example, is a leader in the globalization efforts, even though it has greatly effected job opportunities at home, widening income gaps, and an increased standard of living due to fluctuating world markets.

Many millions of people are excluded, left behind in squalor . . ." (Annan 2000). In spite of the fact that the correct effect of globalization on neediness is exceptionally hard to evaluate, look into assessments demonstrate that destitution has expanded by 82 million, 14 million, and 8 million in sub-Saharan Africa, Europe and Central Asia, and Latin America and the Caribbean separately. Investigating this, globalization itself can 't be considered in charge of the vast majority of the neediness in creating nations as different variables, for example, terrible administration, poor financial strategies, feeble changes, and so forth have additionally embroiled. Be that as it may, globalization is a main consideration. As guaranteed by Princová (2010), globalization prompts to riches redistribution – 'worldwide lavishness and neighbourhood destitution '. It makes the rich nations, for this situation, the industrialized countries, to end up distinctly wealthier, and the poor countries, the creating nations, to end up distinctly poorer.

The reality is clear that globalization contributes to the crisis of the developing countries by limiting local resources and increasing the likelihood of foreign aid dependence. For example; statistics from World Food Program WFP (2011), show that a total of 7.5 million individuals in Sudan received food and cash assistance from World food programme. If those people would have had the chance to utilize the resource available in their country, they might support themselves. Globalization also facilitates the departure of the skilled workers to the wealthy and developed countries. The combination of these negative factors and many other circumstances lead to the tragic scenarios that many developing countries and their suffering citizens experience every day.

When we think of a country’s economy the first thing that comes to mind is how successful a country is, and how successful a country is determines its status as a global power. One of the tools used to measure a country’s economy is call Gross Domestic Product (GDP). GDP can be defined as the value all the goods and services produced within a country within a given period of times, such as a financial quarter or a year. Over the years we have seen an increase in globalization, which is the integration between companies and governments of different countries, which has lead to an increased international trade. As a result of globalization countries can produce more because they are more markets for their products, which in returns adds to GDP. One of the engines of globalization is the transportation and logistics industry, and this industry is considered an engine because without the industry globalization would not be possible. Today with globalization companies can set up factories in low income countries across the world like China and India, and sell the their finish product in the united states making huge profits. Maximizing the profits of companies depends on good transportation and logistics management, because when these products are finish they have to be transported to the United States. Goods can be transported in many different modes of transportation, the most popular mode for international trade are ships, because they are more economical, but airplanes,