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Finance and Accounting - Essay Example
Author : goyettechaya
Finance & Accounting
Pages 4 (1004 words)
One of the first arguments that the author of the article stated is that globalization has helped reduced poverty worldwide. “The economic arguments in favour of globalization stress the positive relationships between increasing international trade and investment flows and faster economic growth, higher living standards, accelerated innovation, diffusion of technological and management skills, and new economic opportunities” (Un, 2012)…
The author’s claim makes it seem as if globalization was the only reason that so many people came of poverty during this timeline. I think that the author’s argument lacks an in-depth analysis of other factors that also contributed to the economic progress in these countries. For instance in China the governments’ policy to open up the economy into the free market was equally or more influential than the globalization movement at reducing poverty. Another factor that helped the people of China get out of poverty was industrialization (Xinhua, 2007). The globalization movement has helped China and India become major players in the global trade of goods and services. In 2009 China overtook Germany to become the world’s top exporter (Nytimes, 2010). I agree with the author that the use of free trade initiatives were instrumental in spurring economic activity. ...