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A 3 page research paper that discusses how globalization impacts undeveloped countries; positive and negative consequences of globalization and the possibility that undeveloped countries can achieve the same standard of living as the West. Bibliography lists 3 sources.
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3 pages (~225 words per page)
File: KL9_khgloissue.doc
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Unformatted sample text from the term paper:
the wealthy countries (Kerbo, 2009). However, the Industrial Revolution increased this gap and it ha escalated further under globalization, as the UN indicates that the number of people living on
less than a $1 a day escalated throughout the 1990s due to the effects of globalization (Kerbo, 2009). The increasing interdependence of the world economy means that what happens
in a nation affects the economies of other nations. For example, when interest rates rose in Argentina in 1998, it was not due to anything occurring in Argentina, but rather
it was due to development in Russia (Stiglitz, 2007). Small developing nations are especially affected. The liberalization of capital markets and its affect on these nations can be understood in
terms of a metaphor that envisions the small-undeveloped countries as analogous to small boats, navigating through rough seas (Stiglitz, 2007). Even if the boats are well crewed and sound, they
can be broadsided by huge waves and capsize (Stiglitz, 2007). Yet the IMF urged these boats for venture into the most turbulent part of the sea (Stiglitz, 2007). Positive
and negative consequences of increasing globalization Despite its drawbacks, globalization has definitely aided East Asian in obtaining rapid economic growth, decreasing poverty levels (Stiglitz, 2007). The globalization of knowledge has
aided these countries in reducing the technology gap, facilitating their production of exports (Stiglitz, 2007). The globalization of knowledge has also facilitated improved health. For thirty years, these countries made
globalization work for them and they did not encounter serious problems until they succumbed to pressure from the US and the IMF and eradicated the regulations that helped keep their
economies stable (Stiglitz, 2007). The liberalization of capital and financial markets created risks for developing countries, as money poured into these countries, fueling speculator real estate booms. However, investor
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