Globalization

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GLOBALISATION… One of the Internet encyclopedias describes globalization as “the changes in societies and the world economy that result from dramatically increased international trade and cultural exchange”. The World Bank defines globalization as “the growing integration of economies and societies around the world”. The British magazine “The Economist” likened globalization to a line from a John Lennon song, “Imagine there’s no countries. It isn’t hard to do”. Clearly, globalization means different things to different people. In this essay we consider these and other aspects of globalization, and we will discuss how the globalization made changes in societies and the world economy that result from dramatically increased international trade and cultural exchange (George Clack, 2000, P. 85). Globalisation is essential and has forever altered the way nations and countries collaborate. However, it also has both positive and negative effects. One major advantage of globalisation includes the benefit that “trade is good for growth and that growth is good for the poor” (Lee & Vivarelli, 2006, p. 167). To stop the increase of negative effects of globalisation, the wealthy country must take action and support and become account for those poorer countries to make this world a better place. This essay attempts to discuss into further detail the food and agriculture policies in developing countries, globalisation and employment and poverty and inequality.

Economic globalization often appears to be a kind of race, with real winners and losers. “Globalization offers extensive opportunities for truly worldwide development but it is not progressing evenly,” in the words of the IMF Issues Brief. “Some countries are becoming integrated into the global economy more quickly than others. Countries that have been able to integrate are seeing faster growth and reduced poverty”. (George Clack, 2000, P. 86). Why do some countries enjoy robust economic growth while others do not?...
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