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IPE Paper - HUBER 1 Generating Success in a Globalized...

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HUBER 1 Generating Success in a Globalized World: An Evaluation of Strategies and Policy Options for Developing Countries Globalization has become growing factor of the International society that can be neither ignore or obliterated. It’s affects are felt by all, every day when you make coffee, get on the road, print a report or make a purchase you, even if unknowingly, are an instrument in the ever- growing web of International connection and dependence. In the last 60 years since Bretton Woods the “globalization phenomenon,” though hardly new to society, has expanded to create an international environment characterized by fused boundaries and vast avenues of industry and trade. The astronomical economic growth fostered by globalization has produced a marked division between the wealthy “developed” countries and the poor “developing” or third-world nations. When prompted to address the issues of globalization and poverty the World Bank’s chief economist François Bourguignon vocalized his concerns over the continued state of deprivation in which developing nations find themselves. He acknowledges that though several areas have seen significant development (i.e. the NICs), “…Other regions have not sustained growth, and in too many cases, the number of poor has actually increased. Although we are likely to reach the first Millennium Development Goal of reducing poverty by half worldwide by 2015, much more aid, much more openness to trade and more widespread policy reforms are needed to achieve all the MDGs in all countries.” CITATION Muz08 \p 3 \l 1033 The remainder of this paper will examine different strategies and policy options for development according to the theories of Structuralism and Liberalism. To analyze the effectiveness of policy I will focus on three major objectives; getting out of debt, ending poverty and pursuing economic expansion that will aid in CITATION Muz08 \p 3 \l 1033 (Bourguignon n.d., 2)
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HUBER 2 recovery and remain sustainable in the long run. The global environment since Bretton Woods has changed dramatically and it is essential that aid strategy be revisited and policy revised in order to narrow the gap between wealthy and poor nations. I contend that a continued process of political and economic liberalization paired with the adoption of capitalistic policies within developing countries creates an environment in which the development objectives may be achieved. Let us begin by looking at the current global environment as a whole structure, with the wealthy few nations at the very top, a section of nations in the economic “middle ground” and bottom tier made up of “developing countries.” It can be argued using the idea presented by Wallerstien, that the steady evolution of globalization and global capitalism has produced a system in which the “core” nations continue expand their economies at the cost of the
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IPE Paper - HUBER 1 Generating Success in a Globalized...

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