Tuesday, September 10, 2019

Discuss the implications of globalisation for both rich and poor Essay

Discuss the implications of globalisation for both rich and poor countries - Essay Example United Nation Development Program (UNDP) is concerned that inequalities and poverty level have increased in poor countries. UNDP indicates the major cause is global trade and finance system (World Bank, 2000). Another implication of globalization for the rich and the poor countries is that there is increased global protest and chaos. For instance, global trade means that investors from different countries have access to rich or poor countries thus increasing the chances of insecurity and drug trafficking. Security is important to poor and rich countries. While most countries join together to improve trade, in some cases insecurity is experienced. Likewise, illegal transactions have been reported for example importing of guns and elephant trunks which is mostly done by the residents of the countries (David, 2001). Drug trafficking like cocaine among other hard drugs is a threat to the countries residents especially to the youths since in most cases the drugs are sold to the youths thu s making a country lowers the economic status. This is based on the fact that young people support a country with the required output in the factories and in plantations among other areas. The rules and ideologies of globalization are that free trade is allowed, deregulation, privatization and structural adjustment which has left the poor countries residents to be homeless, landless and hungry. Since investors from other countries look for cheap labor, no training when recruiting new resources making the matter worse in poor countries. This means that access to health facilities, education, water, sanitation among other things is not easy thus resulting to negative effects on the productivity in such countries (Pritchett, 1998). On the other hand, the rich countries are not affected but rather they keep on increasing their wealth. For example, from 1986 to 2000, the total US wealth that was controlled by people increased from $7.2 trillion to $27 trillion. This

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