article4Ab - Unit Four Political Economy Part A...

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Unit Four: Political Economy Part A: Globalization Debate Article 15: Social Justice and Global Trade Joseph Stiglitz The current global trading system is in theory supposed to create economic growth, however it is hurting poor countries more than it is helping. Trading tariffs are making things even more difficult for the developing countries at a rate four times what it is for developed countries. The United States is only seeming to take interest in helping itself, rather than having concern with the success and well-being of developing countries. It was anticipated that globalization and trade would lead to economic success for many, however few benefited, and the lucky few benefited enormously. Trade liberation is more complex than the political leaders understood. It is true that extreme benefits can come from the liberation as they had hoped, but only under good existing economic conditions such as full employment and good risk markets.
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