The Impact of Globalization on Poverty Essay examples

Globalization has helped raise the standard of living for many people worldwide. It has also, however, driven many deeper into poverty. Small businesses and third world countries are not capable of updating their technology as often as their larger, wealthier counterparts. Unable to compete with multinational firms and wealthy nations, small businesses and third world countries and forced to do business locally, never growing and reaching their full potential. Technological advances are made daily throughout the world. However, it is expensive to rapidly make and transport these advances globally. This high production cost causes the consumer’s price to be unnecessarily high. Today, there are many countries in the world that†¦show more content†¦Before the invention of the telephone, it might have taken days, weeks, or even months to courier documents around the world. Today, however, Selectronic, a company in Delhi, India takes doctors dictation from a toll-free number in the United States, transcribes the recordings, and sends the text back to a U.S. HMO (Porter). With the invention of the telephone and its spread to the world’s wealthier countries also came increased growth in the wealthier countries’ economies. The global marketplace is based on a winner take all system. The wealthy, â€Å"winning† companies and countries are able to sell their goods and services to a global market, while the â€Å"losing†, poorer countries and businesses are limited to their local markets. Massive global markets also create huge incentives for businesses and nations to market products internationally. The National Basketball Association, for example, in 1998 sold more than five hundred million dollars in licensed merchandise worldwide. The NBA owes this huge source of income to advances in technology. Basketball organizations in other countries that cannot afford to market their organizations globally, however, are forced to sell licensed merchandise only in their countries, substantially lowering potential profits. In the past fifty years, global capitalism has raised the living standards of more people higher and faster than the previous five hundred years.Show MoreRelatedImpact Of Trade Liberalization On African Countries Essay1627 Words   |  7 Pagesliberalization (henceforth refers to as economic globalization) impacts poverty levels is limited. This essay examines the relationships between economic globalization and poverty levels in African countries. For instance, a 2006 UNDP report illustrates that just 7.2 percent of Bayelsa and Rivers State (Nigeria) residents were poor in 1980, but in 2004, the poverty index figures rose exponentially to 44.3 percent; Nigeria’s national rural poverty index jumped from 28.3 percent in 1980 to 48 percentRead MoreGlobalization Is Not A New Concept1465 Words   |  6 PagesIntroduction: In this rapidly changing world Globalization has become the way to describe changes in international economy and in world politics. Globalization is not a new concept. After world war II powerful countries tried to capture free market of developed and underdeveloped countries. That’s how that globalization starts. David Bigman says in his book called â€Å"Globalization and the Least Developed Countries: Potentials and Pitfalls† that Globalization has become one of the most emotional word likeRead MoreGlobalization and Poverty1498 Words   |  6 PagesGlobalization and Poverty Introduction 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 BankRead MoreGlobalization Is Not A New Concept1414 Words   |  6 Pagesthe growing interdependence of an economy on the others is the growing norm of the world’s society. Why the countries are dependent on one another? Can’t they survive isolated from the rest of the world? The answer is laid upon the term Globalization. The globalization is not a new concept; it even existed even thousands of years ago. However, it became much popular in the nineteenth century most prevalently after the world war when the economies around the world tend to grow and develop outside itsRead MoreGlobalization, Glt1, Task 1 Essays818 Words   |  4 PagesGlobalization Western Governors University Globalization refers to the development of an integrated world economy, exchange of cultural views, thoughts, and products (Wikipedia, 2013). Pologeorgis (2012) states that, essentially globalization began with the exploration and settlement of new lands. Communication and transportation advances have aided in this process. Two non-Western countries that have been impacted by globalization are India and China. India opened itsRead MoreThe Effects of Globalization1678 Words   |  7 PagesEffects of Globalization Globalization involves shrinking or reduction of the world as well as an increased consciousness in regards to the world as a whole. Globalization is a term which is used in the description of changes in societies and the economy of the world which results in a dramatic increase in investment, cross border trade s well as cultural exchange. Globalization is dominated by nation states, economies of national and the cultural identities of nations. Globalization creates anRead MoreHow Globalisation has affected developing countries in the Asia - pacific region1609 Words   |  7 PagesAn important trend occurring in the world economy is the process of globalization. Globalization is the progressive integration between national economies and the breaking down of barriers between trade and financial flows around the world, which will eventually lead to the emergence of a single world market. Globalization has affected many different nations in different ways, depending on their degree of development and extent to which they are open to the flows of the world economy. China, whichRead MoreOne specific issue that has been associated with globalization that caught my eye was with Peru.600 Words   |  3 PagesOne specific issue that has been associated with globalization that caught my eye was with Peru. Peru used to be a third-world country that was populated with poverty and repression. Today, Peru is now changing into a rising nation and is becoming more popular. Peru is now on the rise is because globalization raised the human development index, authorized women, and shaped a stronger country and government. Today, we consider The Human Development Index to be a dimension of a country’s social, politicalRead MoreGlobalization Essay1402 Words   |  6 PagesA case for globalization Globalization is an inescapable factor in the global economy today. Its effects can be felt throughout the world in industrialized and developing nations alike. The â€Å"process of globalization is so pervasive that it affects all businesses,† (Lawrence Weber, 2014, p. 71). The benefits of globalization are apparent to organizations and nations such as reduction in poverty and benefits to consumers. But globalization must be properly balanced with a covential pledge to careRead MoreGlobalization : A Positive Light926 Words   |  4 Pageseasily from all over the world. There are growing worries that globalization makes people lose their character. However, globalization`s dominance can be viewed in a positive light. This essay will explain why globalization will not put people in danger of becoming the same. It will then discuss that globalization helps different nations keep their traditional culture and stimulates economic growth in developing countries. Globalization shall be beneficial to every culture because people could show