Poverty in Third World Countries

Paper Summary:

This paper explores and discusses poverty in third world countries and in developing countries. The paper also takes a look at how poverty effects globalization. The paper further discusses Michel Chossudovsky's "The Globalization of Poverty".

Outline:
Objective
Introduction
Globalization of Poverty
India's Experience With The 'Special' Funding of Agriculture
Summary and Conclusion

From the Paper:

"Not long after Rajiv Gandhi was assassinated in November,1991, World Bank structural adjustment loans and IMF loans were signed. "The loans were earmarked for repayment of six months of debt servicing of India's external debt totaling $80 billion, the loans helped stem a crisis of confidence on the part of international lenders." The work of Chossudovsky (1997) states that "The economy suffered from stagflation, the price of rice increasing by more than 50 percent in the months following the 1991 measures and balance-of payments continued to deteriorate as rising import costs were not able to be offset by a decline in imports of essential commodities or an increase in exports. The negative effects of the program on internal demand pushed a large number of firms into bankruptcy. The program resulted in dismissal of roughly one-fifth of the public sector work force with only a very modest "safety net". More "liberal" labor legislation may have marginalized further lower wage employees and landless farm workers as wages for these groups came under pressure while consumer prices rose." (Chossudovsky, 1997) Chossudovsky holds that "the program may well have contributed to a two-tier economy of increasing poverty for some and growing opportunity for others." (Chossudovsky, )"

Sample of Sources Used:

• Chossudovsky, Michel (1997)The Globalization of Poverty: Impacts of IMF and World Bank Reforms. Zed Books Ltd. London and New Jersey 1997. Paperback, 288 pp. ISBN: 1856484020. Reviewed by Leo Vox www. worldhunger.com. Online available at: http://www.therearguard.pdx.edu/issues/vol6_iss5_feb04/T he% 20Globa lization%20of%20Pove.htm.
• Mishra, SK & Daimari, Prasen (nd) Poverty, Inequality and Permeability to Globalization Effects: A Study of Select Villages in Udalguri Subdivision of Assam. Online available at: http://129.3.20.41/eps/urb/papers/0504/0504007.pdf.
• Third World Poverty (2006) Under the Acacias Online available at: http://www.voiceinthedesert.org.uk/keith/stuff/international.html.
• Global Poverty Report (2000) G8 Okinawa Summit July 2000. Online available at: http://www.worldbank.org/html/extdr/extme/G8_poverty2000.pdf.
• Poverty Facts and Stats (2006) Causes of Poverty Online available at: ttp://www.globalissues.org/TradeRelated/Facts.asp.

More papers on Poverty in Third World Countries:

• Research Paper # 110102 : "Education in Third World Countries"
• Persuasive Essay # 129320 : "Third World Countries and Detergent Manufacturing"
• Essay # 25114 : "Forgiving the Debt of Third World Countries"

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