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Global Stratification

By lspen111 Jul 26, 2012 891 Words
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 of developing countries and it is established that the last are performing better than the economies of developed countries. Since the author chose to inculcate the terms developed and developing countries, it indicates that the problem is taking place around the globe. In addition, the author was keen to mention different continents to enable readers to know that the problem exists in different parts of the planet . The mentioned countries are situated in Africa, Middle-East, Eastern Europe, and Asia. The reference to multinationals also substantiates that the problem is global. After discussing how the trends have changed between developed and developing countries, the author talks of how many multinationals have been observing the trend and have started moving or expanding their businesses to those areas that are deemed to be more lucrative. Various reasons suggest relation of these problems to stratification. Firstly, it is the fact that the author categorizes countries into developed and developing . Notably, stratification entails the arrangement of something into layers and categorization of the countries depicts stratification. Secondly, the problem also relates to stratification because the economies of countries are compared in terms of their performance before and after the economic downturn of 2009. This is a pure stratification because Buttonwood (2012) notes that many developing countries show higher recovery in their import levels as compared to developed countries, which are still struggling to cope with the downturn. The article directly addresses economic stratification because it covers the economuc situations of developed and developing countries before and after the economic downturn. In addition, Buttonwood (2012) mentions multinationals trends in relation to economic performance, which also relate to stratification. For instance, the author indicates at the end of the article that plenty multinationals have been observing the trend and have prepared to move into the emerging markets. This proves the fact that economic stratification is discussed and the economies that perform well have higher chances of attracting investors than stagnating ones. There is one main solution advanced in the article. It concerns improvement of imports of a country. According to Buttonwood (2012), an improvement in the percentage of a country’s imports combined with higher commodity prices ensure that the spending power of many countries is increased. I do agree with the solution proposed by the author because it has worked for several developing economies which have endeavoured to improve their imports level. Notably, improved imports and the upward trend of commodity prices boost the spending power of the country ( Buttonwood, 2012). In conclusion, this essay is analysis of one article from The Economist with answeres to several questions regarding stratification. It has identified different problems outlined in the article, which include the cause of the 2009 trade collapse and the unreliability of economic data when a person wants to get the real perspective of what is happening at a certain region. The categorization of economies in two groups that include developed and developing countries is the indicator why the problem relates to stratification. The comparison of performances of developed and developing economies before and after the 2009 economic downturn qualifies the issue as related to stratification. It worth mentioning that the author adresses economic stratification since he categorizes different economies according to their performance. Also, an improvement of a country’s import level has been cited as one way to achieve economic recovery and accelerate development.

Reference
Buttonwood. (2012, May 2). World's Apart. The Economist. Retrieved from http://www.economist.com/blogs/buttonwood/2012/05/global-trade

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