Globalization is a market system, changes in societies and world economy due to the dramatic increased in trade and culture exchange mainly between the rich and poor economies. In global poverty, there is 23.4 percent of the world’s population living on less than one dollar a day and almost half of those living in developing and transition economies are making at least two dollars a day which is ten percent of world’s population.
Facts are truly sad. If people actually want to end poverty, the time is now!
I actually like UN Millennium Goals but it had me thinking. Are the rich nations really trying to improve or worsen the situation on poverty globally?
Globalization sucks. I recommend anyone to watch Life and Dept in Jamaica. This movie has the best explanation to why the third world country suffers from poverty. In this video, Life and Dept in Jamaica focuses the country as an example of a small developing country being exploited by well-developed countries using globalization to benefit themselves. In desperate need, no one would loan Jamaica money to jump start their growth. IMF known as the International Monetary Fund offered short term loans to Jamaica which they accept in addition, IMF applied specific rules to how they could spend and the amount they must charge on interest rate, the nation couldn’t afford paying back which led more loans and causing a cycle of people trapped in poverty.
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