Globalization

Paper Summary:

This paper defines globalization which refers to the new world economic and political order with its interdependence and interconnectedness. It explains that as a consequence of globalization the world is becoming a single entity. The author contends that this unity of all people should produce advantages that are equally distributed. It explains that a pattern can be noticed since globalization gained force during the 1980s, increasing economic integration has corresponded with increased global inequality.

From the Paper:

"Globalization refers to the new world economic and political order with its interdependence and interconnectedness. As a consequence of globalization, the world is becoming a single entity. This unity of all people should produce advantages that are equally distributed. However, a pattern can be noticed since globalization gained force during the 1980s: increasing economic integration has corresponded with increased global inequality. "The growth of extreme poverty coincides with an explosion of wealth over the same period" (Nederveen, 2004, p. 61). Globalization benefits only about one-fifth of the global population; for the remainder of the world, and especially the developing countries, globalization causes hardship and restrictions. The outcomes of globalization follow the same pattern ..."

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