Day 015 The Downside of the Economic Globalization - Increasing Gap Between the Rich and the Poor

The Downside of the Economic Globalization

Increasing Gap Between the Rich and the Poor

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At present, we live in an increasingly integrated world thanks to the famous term - economic globalization which were ignited by the General Agreement on Tariffs, Trade and the World Trade Organization (WTO), and the cross-border immigration. The agreement cut down the trade barriers of countries, at the same time, the organisation created a wholesome environment for the circulating of the capital.

The globalized lines of production, integrated market, current cash flow, development of technology, speedy disseminating of information, and direct foreign investment are all the concrete facts about the economic globalization. The upside of it is conspicuous: more chances and room for the developing countries to step up, more advanced technology and equipment, larger talent pool, smarter management strategies, broader international market, etc..But, somehow, some of the downside of it gets away, among which the most underestimated by everyone is its contribution to the increasing gap between the rich and the poor.

Many would argue at this point that the omnipotent economic globalization would, in no way, have pernicious effect on the divide because the third-world could definitely benefit a lot from this transform when the rich and technology-advanced countries conform the trend and outsource part of their job to them. However, that is just an ostensible result. The real living condition of the poor countries, to some extent, looms even larger.

First, most often, the rich guys would only outsource their work to the second best ones. For example, if Uncle Sam need to find somebody to manage his technology department, Korea, who has Sumsung and knows better about technology will stand more chances to get this offer than Nigeria. By the same token, if Europe prepares to expand its market, China would probably be on the top of his list and no third worlds can see the light of the day. Therefore, it is all about the right match. Unfortunately, in no books, the rich and the poor can make a perfect couple.

Besides that, third worlds have the limited political and financial influence in the international community. To be more blunt, the word - limited is just a turn of speech that serves as an euphemism, the right one should be infinitesimal.Limited political power equals less chances to engage in the lucrative trades. It is not just a problem of a bad hand in the poker game, the matter is that they will not even have a seat on the play table. The empty pockets of their shabby coats leave them no opportunity to put up office buildings and industries, making paving the paths toward their own bright future a complete joke.

After all, the old saying goes along and remains unchanged in the constantly changing world - there's two sides of a coin. Even to the economic globalization, a all-powerful and unstoppable trend, the bad side of the coin is still real.