Question

explain the role of globalization on proverty eradication and human development 200words ​

Answer 1

Answer:

Explanation:

The impact of globalization on poverty eradication has increasingly become the focus of attention of governments and international organizations. 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.

Reality has proven not to be so rosy. First, the benefits of globalization are not equally distributed and tend to be concentrated among a relatively small number of countries, particularly the more advanced ones. The poorest countries such as the least developed countries in Africa have not been able to sufficiently harvest the benefits of globalization. Second, most efforts have been placed in facilitating free trade flows, particularly in products which are of importance to the developed countries, as part of the globalization process. Other dimensions of globalization like labour market standards, the environment, sustainable development and poverty alleviation has received much less attention. Third, globalization has also led to an increased vulnerability among many countries to international economic conditions, as clearly demonstrated by the Asian financial crisis of 1997-1998.

The ongoing focus of countries and national and international organizations on poverty alleviation has created a much clearer picture of the magnitude, nature, determinants and possible routes out of poverty. Recent estimates by the International Fund for Agricultural Development (IFAD) indicate that 75 percent of the poor work and live in rural areas. Rural poor have restricted access to and control over assets – land, water, credit, information, technology, health, education and skills – and to markets. As such their lives have limited links to the macro-economic environment in which globalization takes place.