Globalization

Paper Summary:

This paper offers an overview of some aspects of globalization and aims to identify ways in which globalization can actually assist as opposed to hinder struggling, under-developed countries. Additionally, this paper explores some of the issues in the open debate on globalization among international organizations, governmental institutions and the academic world; in terms of the political, economical, environmental and social effects of globalization. The paper concludes with an overall evaluation of globalization.

Table of Contents
Introduction
Global Opportunity
Global Concerns
Conclusion

From the Paper:

"There is little doubt that globalization offers expansive opportunities for truly worldwide development but these opportunities are not advancing evenly (imf.org). Some countries are becoming integrated into the global economy more quickly than are others (imf.org). Countries that have been able to integrate are seeing expeditious growth and reduced poverty while those that have not integrated are suffering ill affects (imf.org). For example, in the 1970s and 1980s when many countries in Latin America followed inward-oriented policies, their economies stagnated or declined, poverty increased and high inflation became the norm (imf.org). As this region changed its policies toward more global ones, their situation began to improve (imf.org). Similar transformations need to be undertaken in other countries especially failing ones (imf.org). Encouraging the global trend, not reversing it, is the best and quickest course for promoting growth, development and poverty reduction (imf.org)."

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