Globalisation: Pros and Cons Free Essay, Term Paper and Book Report
Globalisation is defined as the greater movement of people, goods and ideas due to increased economic integration which in turn is propelled by increased trade and investments. There are many good things about globalisation for one thing it allows economies to grow much faster. However globalisation has caused some human rights issues and increased inequalities between countries.
Benefit of globalisation: Economies grow faster
Firstly economies of countries that engage well in international economy have grown much faster than those that try to protect themselves. Well managed 'open' economies have growth rates of about 2.5% higher than countries that are closed to globalisation. Higher and therefore faster economic growth means improved living standards and therefore reduced poverty. An example of this is that in the past 2 decades India has cut its poverty rate by 50% due to a significantly opener economy and embracing globalisation. Similarly China reduced its number of rural poor from 250 million in 1978 to 34 million in 1999.
Benefit of Globalisation: development of WTO an......
Word Count: 516
Page Count: 2 (250 words a page / double spaced)
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