Global Stratification

Topics: Developing country, Developed country, Cyprus Pages: 3 (891 words) Published: July 26, 2012
Global Stratification
The article under scrutiny is from The Economist’s Buttonwood columnist blog. The article was published on May 2, 2012, and it is titled as “Worlds Apart”. The article examines the problem related to the global trade; it is indicated that most economies of developed countries did not recover from the 2009 trade collapse. It should be noted that the problem discussed in the article took place across the globe as many countries were affected by the economic downturn. The article abounds with various facts, which makes it qualify as addressing a stratification issue. Some of these issues include the fact that different economies reflect different recovery levels according to separate development rates of different years. Therefore, it is essential to note that the notion of economic or stratification is discussed in the article. This paper observes the “Worlds Apart” article by Buttonwood and explicates the discussed problem examined as well as where it is taking place and how it is related to stratification. Finally, the paper distinguishes the type of stratification depicted in the article. The article outlines different problems. Firstly, according to Buttonwood (2012), the trade collapse of that time (2009) was partially occasioned by financial crises as it was difficult to raise trade finance. It was followed by a rapid recovery in 2010, which began to stagnate again from 2011. Secondly, another problem outlined in the article concerns the problem of economic data becoming unreliable when a person wants to establish favourable information concerning economic trends. However, the author notes that the economic data can be relied to some extent. The economic data, which involves numbers, is utilized in explication of the third problem mentioned by the author. Buttonwood (2012) asserts that trade in the developed economies has not undergone much transformation since 2008. It is compared to the change that has taken place in the economies...
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