Ong Cai Ping about nber.org/digest/mar07/w12347.html This website is a non-profit organizational website that does research on how the economy works. This website talks about the relation between globalization and poverty and how globalization causes poverty. It states that the relationship between globalization is complex, the relationship depends not just on trade or financial globalization, but on the interaction of globalization with the rest of the economic environment: investments in human capital and infrastructure, promotion of credit and technical assistance to farmers, worthy institutions and governance, and macroeconomic stability, including flexible exchange rates. When globalization takes place, there are people living in poverty that might benefit from it but at the same time, there might be poor people that suffer even more. I think that with the advance of technology and transportation, the world is developing at a much faster pace and this causes globalization. However, globalization will not just bring fortune to people but also misfortune as people who are farmers or people that own small businesses might not be able to upgrade to the latest in technology. Hence globalization will not help to improve their life, but worsen it-as they will lose out to big companies that have received advantages from globalization. Even though globalization will help a country’s economy to grow, it will not really help everyone in that country to benefit. I think that the government in that country should ensure that all the people in that country benefit from it and not causing more people to fall into poverty. Also, the government should help farmers and small businesses not to lose out when benefiting from globalization. If the government is able to do, there might be more people recovering from being in the life of poverty. I think that people living in poverty should not just wait for the government to help them, but also look for opportunities to improve their lives-but not by doing illegal things. I feel that if both the people and government work together, there might be fewer people living in poverty. Ong Cai Ping, PB03, Group 5 Portfolio 2
Posted on: Sun, 02 Feb 2014 12:59:05 +0000
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