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Here are the Harmful Effects of Globalization
An illustration of the effects of globalization on developing nations is the distance between the richest and poorest countries between the years of 1820 and 1992. In 1820, it was 3 to 1; in 1913 it was 11 to 1; in 1950 it was 35 to 1; in 1973 it was 44 to 1 and in 1992 it was 72 to 1 (Perkins, 2004). This gap keeps increasing over time, showing that poor countries do not benefit from globalization; rather they continue to ail even more.
Thus, globalization has induced international peace and security in a big way.
Free trade is a policy in which a country does not levy taxes, duties, subsidies or quota on the import/export of goods or services from other countries.
We have lot of examples how IT is effect on globalization.
The article by Edmond purports increasing inequality as the impediment in globalization’s course of alleviating child labor. The author notes globalization is only effective in nations where affected industries envisage majority of the income earners such as 70% of Vietnam income earners in the rice industry. In my opinion, this is a valid argument given inequality hinders eradication of consequences associated poverty such as child labor. The segment of the population living below the poverty line is likely to practice the vice regardless of a nation’s GDP increasing (Dagdemir & Acaroglu 2010). This is illustrated by the slow response of child labor to globalization economic empowerment effects. Research indicates the world’s top 50 million people earn as much as the world’s poorest 2.7 billion (Lieten 2003). This means in spite of increasing globalization, income disparity is worsening where in China 100 million more people live in poverty than five years ago. As fore mentioned, this justifies the authors perspective of globalization increasing child labor if measures to reduce the socio-economic inequality are not enforced.
In my opinion, the author’s perspectives on globalization or international trade effects on child labor are validated. Edmond articulates two perspectives the first highlighting the positive effect of international trade in reducing child labor. This is also validated by Dinopoulos and Zhao (2007) who present a model stating domestic interest rates are reduced due the access to global capital market. Consequently, falling interest rates are less enticing to higher returns from educating a child. Therefore, parents opt to educate their children as opposed to having them work. On the other hand, Edmond also depicts the negative effect of international trade on child labor where increased foreign competition leads to increased unemployment as well as poverty. I also agree with this statement in light of economic models depicting the relationship between trade liberalization and child labor. The models highlighted in the article by Dinopoulos and Zhao (2007) imply increase in demand for goods made through unskilled labor due to trade liberalization. If the demand for unskilled labor rises, then the anticipated returns on education decrease thus luring more children into employment. Additionally, trade liberalization entails loosening of migration regulations resulting to labor migration where children transverse borders searching for employment. This is illustrated by children in poor nations of Mali and Burkina faso migrating to work in cocoa farms in neighboring Ghana as well as Ivory Coast. Given the former example, I contend with Edmond’s suggestion of globalization being complimented by incentives to educate children. Lieten (2003), India has recorded a decreasing number of children workers in factories but surprisingly an increase in generic child labor. This is because much of the labor has shifted to household where the carpet making and weaving is done by children in their homes. In spite of government sanctions against the vice, globalization creates a market for goods made at home with no countering incentive for the children to be in school. Accordingly, incentives to keep children in school such as free meals should be integrated.
Free effects of globalization Essays and Papers
This paper will discuss a major problem that has been brought about by globalization; the gaping inequality between developed and undeveloped nations. Globalization, ideally, is meant to benefit all mankind but the truth is the rich are becoming richer and the poor, poorer. To this effect it is the poor nations of the world that have born the brunt of globalization, while the rich countries continue to enjoy and reap benefits from it (Chossudovsky, 1997).
One of the factors that increase this condition in poor countries is dependence on developed nations for provision of funds in form of debt and grants. The funds they receive do not help the economies of less developed countries (LDCs) because they receive them on condition that they open up their markets to free trade. When the LDCs open up their markets, this richer countries import their commodities into these markets, and make it difficult for the poor nations to export their commodities. Thus the LDCs use up their capital to import, and this imports flood their markets overshadowing local commodities in some cases. This kind of competition with imports hurts the local industries. Repayment of these huge debts is also costly and leads to the continuation of this vicious cycle of poverty among the poor states (Rupert & Solomon, 2005).
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