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Essay: The Impact of Globalization: Opportunities and Challenges for the World

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  • Published: 1 February 2018*
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​Globalization has become the living reality of the world, affecting many directions, many aspects for the development of all nations. It poses many opportunities as well as challenges. Globalization is not just rapid economic growth, it is an opportunity to enrich people, but also the incomes and lives of hundreds of millions of people at risk of poverty and unemployment. The documentary film Slums and Money has partly manifested globalization and poverty in the process of international economic integration.

Globalization can have a positive impact on a number of countries, but it also has a negative impact on other countries. Many people in poor countries, particularly in rural areas or in informal sectors, are almost completely isolated from the process and benefits they receive from globalization are too small. Globalization has also shown weaknesses, exacerbating fundamental problems like poverty, inequality and unemployment. Moreover, globalization has led to the narrowing of policy space in developing countries. One of the most obvious negative effects of globalization is the widening of the gap between the rich and the poor. The greater the international economic integration, the more the economy faces the difference in income between people in one country and people among nations. Since then, a new class of the poor has emerged and is rapidly increasing, changing the political environment. This trend is an important reason to strengthen protectionism in the world. There are still many on the brink of poverty and some are even worse than before. It can be countries, regions or groups of people in some countries or individuals. There are many causes for their case – including conflict, poor governance and corruption, discrimination, lack of basic human needs, illness, lack of infrastructure, poor economic management and lack of motivation, lack of ownership and regulation, even geography and climate. We can also see the environmental challenge because of this rapid growth, with rivers getting darker, the sun without the sun, and the threats to health and climate. Globalization has brought rare opportunities, but exclusion, persistent poverty and environmental damage also pose a risk. The highest risk people are those who are least likely to be involved in the process – indigenous people, women in developing countries, rural poor, Africans and their children. Slum and Money documentaries show why marketers such as World Bank President Robert Zoellick; author of "The Bottom Billion" by Paul Collier; Andrew Steer of the British government; And Indermit Gill, the lead author of the 2009 World Development Report, believes that their ideal markets can survive the global credit crunch. In 2000, the United Nations introduced eight Millennium Development Goals – with ambitious targets for poverty, hunger and disease, and providing basic services to the poor by 2015. These goals as well as our goals The World Bank Building reminds us daily of what we have to do when we come here to work (1).

​Can globalization reduce poverty? The main point of anti-globalization is that globalization makes richer countries richer and poorer ones. Supporters say that globalization will benefit poor countries. But if we look at actual evidence, we will find that this problem is much more complex. Although in general the poorest people do not become poorer, no one has proven that their lives are largely improved on the basis of globalization. In China, poverty can be blamed on internal causes such as large-scale infrastructure expansion, grain prices and loosening restrictions on rural-based migrants. Marketing. In fact, from the mid-1980s before the investment boom and China's international trade began to reduce poverty. Between 1981 and 2001 more than 400 million Chinese crossed the international poverty line. Similarly, India also reduced poverty in the 1990s based on the green revolution in agrarian poverty programs and social policy rather than on trade liberalization (2). Definitely, globalization has also brought more jobs in the specialized manufacturing industry as well as helping many Indians and China escape from poverty. But 25 years ago, globalization was not the dominant factor in economic development, because there were many other important factors. One may question the benefits of globalization with the fact that poverty is still occurring in countries such as the Sahara in Africa. In fact, globalization is almost ineffective for politically unstable states. Political instability exacerbated geographic isolation, disease, military conflict, and as a result, these countries were difficult to attract international investment. In regard to Slums and Money, the first scene depicts the poverty of cities in the developing world where some of the poorest and richest people on the planet are. Does the government allow cities to grow, direct the most investment there or should they spend their money in their rural areas? The remaining challenges they face are the billions of people who are in the process of globalization and need to be brought into the process quickly and positively. On the other hand, efforts should be made to improve the mechanisms and policies of the government. For example, infrastructure construction, and especially important, is open markets in both poor and rich countries. Typically, in developing countries that support market regulation, protectionism falls into contradiction: better protected people are better protected, while those in need of protection of the poor are not protected. good. Therefore, everyone should have a different protection measure for the poor.

We need to put the issue on the relationship between the poverty and globalization. Globalization, once again I would like to emphasize, it never makes people poorer. It only makes the issue of poverty and the gap between the poor and the rich more aware and understandable. It is undeniable that globalization has indeed brought benefits to the participating countries, especially the developing countries, while opening up opportunities for them to accelerate economic growth, poverty reduction, exchange and prosperous. Slums and Money discuss the impact of poverty and globalization around world. The film shows us the reality of poverty that surrounds us in today's globalized society. And the fact is that if the regulation of the globalized market becomes strong and universal, the deliberate interventions of the state are weak, rich and poor differentiation process takes place quickly.

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