Globalization and Poverty Essay
In this essay, I am going to investigate the globalization and poverty in the world. Meanwhile, its impact on global marketing activities will also be addressed.
It is an interesting topic to study, as you will know the reason behind by the following quotes:
‘Over the past 20 years, the number of people living on less than $1 a day has fallen by 200 million, after rising steadily for 200 years’ (James Wolfenson, president of World Bank, World Bank Report, 2002)1
‘Globalization has dramatically increased inequality between and within nations.’ (Jay Mazur, US Union leader, 2000)2
So, who was telling us the truth?
Our main objective of writing this essay is …show more content…
According to the statistics presented by the World Bank, the share of population of developing countries living on less than US$1 per day declined from 40% to 21% between 1981 and 2001. However, this figure was achieved by mainly a substantial reduction of number of poor in Asia (e.g. China and India). Furthermore, the total number of people living on less than US$2 per day increased worldwide. In particular, poverty has increased significantly in Africa in terms of poverty incidence as well as the depth of poverty.13
3. Is Globalization reducing poverty and inequality?
Some say ‘Yes’ that globalization is the door that opens up the market of poor country to the international market for foreign trade and long-term capital flows. Globalization brings a large impact on the work opportunities of migrants and improves their living standard. It also encourages entrepreneurial opportunities for the poor and for small enterprises.14
Some propose ‘Anti-globalization’, as they argue that globalization causes poor countries to lose their national market and exploit people in these poor nations to