Has globalization transformed the pattern of global poverty and Essay

Has globalization transformed the pattern of global p all overty and inequality In what ways - screen ExampleBased on the assumption that comparative advantage of nations roll in the hay offer countries an advantage over others, open markets and liberal trade can result into amendd trade as well as capital flows and thus help improve the beggary and achieve economic prosperity. It is generally argued that Globalisation can reduce poverty if nations follow the open liberal policies and focus upon achieving sustained level of trade with unquestionable countries. However, considering the inherent differences between developed as well as developing countries, it is also suggested that whether the distribution of flows generated as a result of Globalisation is fair or not. Inequality is also considered as another authorised issue regarding Globalisation (Moseley and Gray, 2008). This paper will argue and discuss as to whether Globalisation has in truth resulted into displacement of poverty patterns and inequality and if yes, in what ways it achieved both the ends. Globalisation, Poverty and Inequality Globalisation is a relatively diverse term as it not only suggests an integration of ideas, products and economic flows but also signifies an integration of the culture also. ... Globalisation essentially suggests that poor as well as rich countries can actually trade with each other as poor or developing countries are considered as lush in raw materials as well as cheap labor. Large global organizations, due to their unblemished size as well as the improved communication and transportation infrastructure, can actually base their manufacturing facilities in developing countries and subsequently transport back the finished goods to their own parent countries for subsequent sale. The boilers suit economic logic is based upon the assumption that developing countries not only have the cheap and galore(postnominal) raw materials but also have the cheap labor. C ombining this 2, it is assumed that it becomes relatively more follow effective for the global organizations to actually trade with poor countries (Goldin and Reinert, 2007). Poor countries on the other hand digest developed countries to enter into their countries with the assumption that such trade will generate employment, improve the level of skills of their workforce and will also result into transfer of technology to them. Apparently, Globalisation promises an equal access to the market for everyone, improve capital flows and ensure development and transfer of technology however, the actual results may suggest a general economic divergence between the developed as well as developing countries since the Globalisation forces started to dwarf the economic policy making in countries (Kaplinsky, 2005). The overall evidence regarding the impact of Globalisation on poverty as well as inequality is relatively diverse in nature. There are two important cases in point which suggest that