Is it the integration of economic, political, and cultural systems across the globe? Or is it the dominance of developed countries in decision-making, at the expense of poorer, less powerful nations? Is globalization a force for economic growth, prosperity, and democratic freedom? Or is it a force for environmental devastation, exploitation of the developing world, and suppression of human rights? Does globalization only benefit the rich or can the poor take advantage of it to improve their well-being?
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ReplyDeleteAccording to the World Bank, almost one-half of the world's 6.5 billion inhabitants live on the equivalent of less than $2 a day, and about one-fourth of the world live on the equivalent of less than $1.25 a day.1 Meanwhile, people in the 20-richest countries on average earn 39 times more than people in the poorest 20.2
ReplyDeleteAt the same time, the extent of poverty has declined significantly. For example, the World Bank estimates that from 1981-2005 the percentage of people living on less than $1 per day was halved. The amount decreased from 52 percent to 26 percent in this period.3
These contrasts highlight both the problem and the progress of what is known in the international community as "development." Large numbers of the world's inhabitants are mired in poverty, especially in Africa, while inhabitants of the world's richest countries live in both relative and absolute luxury. But people in poor countries are getting wealthier over time—a process linked to globalization because poorer countries can raise their standards of living by integrating with rich countries.
The term "development" in international parlance therefore encompasses the need and the means by which to provide better lives for people in poor countries. It includes not only economic growth, although that is crucial, but also human development—providing for health, nutrition, education, and a clean environment.