Globalization and the Debate on Poverty

Paper Summary:

The following paper offers an overview of the impacts of globalization on developing countries, the arguments made against globalization, as well as corresponding rebuttals. Also identified are methods by which countries can reap the rewards of this process, while remaining realistic about its potential and its risks.

From the Paper:

"Globalization offers extensive opportunities for worldwide development, but this process is not progressing evenly. The richest 225 people in the world have a combined wealth equal to the annual income of the poorest 47% of the world s individuals. (Crafts 2) Countries that have been able to integrate with other nations are seeing faster growth and reduced poverty. However, many nations have not been so fortunate, especially in developing areas. One in four individuals across the world lives in abject poverty, without access to adequate food, clean water, sanitation, essential healthcare or basic education services. This is both the principal moral issue facing the world as well as the utmost menace to the future security and stability of the planet. Many of today s problems, such as war and conflict, mass migration, and environmental degradation are rooted in poverty and inequality."

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