Globalization - Chapter 20: Global Issues and Globalization...

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Chapter 20: Global Issues and Globalization INTRODUCTION: The worlds population is growing, and people are moving to cities. RICH AND POOR NATIONS Nations are generally categorized in terms of their economic status and level of development (rich and poor, affluent and less affluent, developed and developing, first- fourth world nations) Extreme poverty: Poverty that kills. CAUSES OF EXTREME POVERTY: Colonialism: o In one POV, Colonialism is the cause of poverty, and that Western nations stole the riches of their colonies, this enhancing their own wealth while depressing the wealth of the colonies. Counterargument: Modern world history is long and complicated and open to different assessments and interpretations. There have been other colonializations throughout history that may not have been the cause of extreme poverty. Also, some Western nations might have helped their colonies develop resources. Farm Subsidies and Other Trade Barriers o In one POV, Trade Barriers are the cause of poverty. Wealthy Western nations give a lot of money in subsidies to their own industrial farmers, thereby increasing competition between industrial farmers from 2 nd -4 th world countries and industrial farmers from 1 st world countries. Counterargument: No trade barriers might mean that poor people who were going to work on small country farms will not get jobs on industrialized farms and move to the city to get jobs there, thereby increasing city pollution. World Bank and IMF o In one POV, International Financial Institutions might be a cause of extreme poverty. The International Monetary Fund and World Bank were established to preserve international financial stability. Sometimes, the textbook economic policies do not work out and deliver fair opportunity for everyone, being especially harmful for 3 rd
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Globalization - Chapter 20: Global Issues and Globalization...

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