Describe global poverty trend
Answers
To have a clear understanding of the global poverty we need to understand the globalization very minutely. I will discuss this question in two dimensions. firstly, world economy has been divided into three part i.e. core, core-periphery and periphery. Core economy is the advance economy and the core-periphery is the middle economy and the periphery is the least developed economy. The periphery is dependent upon the advanced or core economy for its development and the advance and developed economy exploit the resources of the periphery leaving the latter high and dry. That creates economic challenges for the least developed countries since all the advanced technologies belong to the core countries. Secondly, similarly with the advent of globalization if we take the case of India there are castes like Kumahar (potter), carpenter, barber etc. who were service delivering castes who earn their livelihood by providing service to the village or the people around them. But globalization replaces the potter and the diyas with modern lights and lamps and candles, big wood industries has replaced the old occupation of carpenter etc. Similarly at the global level the big MNCs and the big capitals has replaced the small economy and small business man for instances, Flipcart, Walmart, Amazon etc. creating poverty for those who has small business. As these big farms providing goods at discounts which small shops can't do. So the globalization is creating global poverty and the poor is getting poor day by day and rich is getting rich.
Answer:
Poverty is universal, and people living in developing countries face lot of challenges and unfor it. World Bank from timeemployment, low agricultural income and many social reasons are to time define the living standard and people living less that a certain amount fall below poverty line.
Poverty line has fallen in the last ten years in many developing countries. In Latin America, it has also come down, but the ratio of persons living below poverty line to the rest is almost same.
In many sub Sahara African countries, the number of people below poverty line is still very high and in some South Asian countries, the decline is sharp due to rapid development, however, some still lacks development.