why globalization failed to solve the problem of poverty?

Answer 1

Zoellick’s manifesto in The Economist, alludes c19 Britain opening of trade routes through gunboat diplomacy and occupation, to that of United State’s (US) trade policy under Bush, through mercantilist power, protectionism at home but a pledge to free trade overseas. Mexico, facing domestic maize crisis, is due to lower import tariffs under the North American Free Trade Agreement (NAFTA), notwithstanding US maize subsidies (2002 Farm Security and Rural Investment Act) of approximately $20bn yearly. Less apparent are trade barriers masquerading as seasonal restrictions, technical and legal hurdles, with anti-dumping cases directed primarily at against developing countries exports.

A less recent proposal was the application of 0 tariffs in manufacturing aimed at all countries, reminiscent of IMF’s and the World Bank’s position 20 yrs ago. Understandably, fearful are the countries of relatively old wealth, as are the concerns of workers whose understanding of competition to be that of an open field. The parallel of U.S.S.R’s Glasnost and Perestroika “big bang” theory in contrast with gradual opening of new global markets, China and India, suddenly becomes more appealing.

Looking domestically, has US’s managed its own economy well ? What of 90’s capitalism as exemplified by Enron & Worldcom ? Arisen from the collapse of large corporate giants, is a greater awareness of corporate accountability and governance. ( Sarbanes-Oxley act ) It is not globalisation and trade liberalisation per se, but domestic mismanagement that is root of many ills.

Externally, with China taking away blue collar jobs from the US and India, white collar jobs, there is a realisation of being more competitive, yet have ready access to cheaper goods and services in China and India. To quickly ascribe the virtues of size as leverage to China may not bear adequate correlation. Brazil, a large economy has suffered in spite of free capital mobility; the former two resisted capital liberalization. In resolution to India’s economy, Professor Joseph Stiglitz is of the opinion to privatise inefficient public enterprises, not to raise revenues for government; but rather to increase productivity in the economy. Where his preference lies towards open economies instead of unbridled capital flows, ( the erstwhile tried and tested solution to the two countries ), by inference, each country should practise good governance with open reasonable policies to seize opportunites previously not readily accessible to the world.

Answer 2

Globalization is the availability of standard products made in specific parts of the world, for the whole world to consume, as well as the attempt to generalize culture and customs. It is actually the centralization of economic groups, not the expansion, since companies merge in order to cut down costs and fire employees, in order to get bigger and reach more parts of the world. This does not present itself as a solution to poverty in no way whatsoever. It is prejudicial to the poor, since it does not create new jobs, but it does offer them products that they cannot buy, as well as diminish the influence of local economies by invading them with alien products. Globalization is not the solution to poverty and it never will be. Local economies must resist globalization in order for each community to have a chance of achieving welfare.

Answer 3

Simply put, it didn't have the resources to solve the root of the problem. At current populations, there isn't enough arable land to provide food for everyone on a regular basis, hence starvation, one of the signs of poverty. Hydroponics may eventually be able to solve the problem of hunger, as it becomes more widely used, however as more food is available, the population will expand to accomodate and we'll end up right back where we started.

Answer 4

Globalization can never change or finish poverty in the world because it doesn't play role locally. It's role is universal, not limited to one specific part of the world. The local governments in the world do not make enough efforts to change their policies and change the existing failed plans. We always blame other before sweeping under our own doorsteps.

Answer 5

Please look at Haiti, a former French colony, which was the first independent black republic. Haiti became the second independent country in the Americas (after the United States) when it declared its independence on January 1st, 1804.
Haiti had ambition and hope at times, but all of the problems and poverty in Haiti have nothing to do with "Globalization."

Answer 6

That's when the super virus comes in