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    Intglos Reviewer

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    Alyanna Del Castillo
    The document discusses several key aspects of globalization and development. It defines globalization as the convergence of different ideologies, beliefs, and policies that set a standard countries must follow to modernize. Features of globalization include neoliberal policies promoted by IMF and World Bank like structural adjustment programs that increased debt in developing nations. Globalization also increased labor migration and privatization. Major challenges are that it deepened divides between rich and poor nations and current approaches to development aid are insufficient. True development is multi-faceted and focused on improving quality of life rather than just economic growth. Developing countries are characterized by challenges like poverty, disease, and lack of integration in the global economy.

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    Intglos Reviewer

    Uploaded by

    Alyanna Del Castillo
    41 views2 pages
    The document discusses several key aspects of globalization and development. It defines globalization as the convergence of different ideologies, beliefs, and policies that set a standard countries must follow to modernize. Features of globalization include neoliberal policies promoted by IMF and World Bank like structural adjustment programs that increased debt in developing nations. Globalization also increased labor migration and privatization. Major challenges are that it deepened divides between rich and poor nations and current approaches to development aid are insufficient. True development is multi-faceted and focused on improving quality of life rather than just economic growth. Developing countries are characterized by challenges like poverty, disease, and lack of integration in the global economy.

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    introduction to globalization

    Original Title

    INTGLOS REVIEWER

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    The document discusses several key aspects of globalization and development. It defines globalization as the convergence of different ideologies, beliefs, and policies that set a standard countries must follow to modernize. Features of globalization include neoliberal policies promoted by IMF and World Bank like structural adjustment programs that increased debt in developing nations. Globalization also increased labor migration and privatization. Major challenges are that it deepened divides between rich and poor nations and current approaches to development aid are insufficient. True development is multi-faceted and focused on improving quality of life rather than just economic growth. Developing countries are characterized by challenges like poverty, disease, and lack of integration in the global economy.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    41 views2 pages

    Intglos Reviewer

    Uploaded by

    Alyanna Del Castillo
    The document discusses several key aspects of globalization and development. It defines globalization as the convergence of different ideologies, beliefs, and policies that set a standard countries must follow to modernize. Features of globalization include neoliberal policies promoted by IMF and World Bank like structural adjustment programs that increased debt in developing nations. Globalization also increased labor migration and privatization. Major challenges are that it deepened divides between rich and poor nations and current approaches to development aid are insufficient. True development is multi-faceted and focused on improving quality of life rather than just economic growth. Developing countries are characterized by challenges like poverty, disease, and lack of integration in the global economy.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    1. what is globalization?

    a phenomenon wherein its a melting pot of different ideologies, beliefs, histories, policies and
    norms that all converge to form a status quo; sets the bar that countries must modernize = create a
    rift global norht and south.
    2. what are the features of globalization?
    Neoliberalism concept- free market capitalism
    IMF + World Bank - get everybody on board to participate on the new global economy
    - promoted giving loans to global south states
    - Structural Adjustment Programs (SAPs) - conditionalities for loans from IMF and WB
    - gave high inflation rates
    - worsened the economy in many parts of the development world, many countries cannot come
    out of debt because of the debts
    - By devaluing the currency and simultaneously removing price controls,

    Labor Expert Programs (LEPs)


    - State-sponsored labor migration
    - Send people abroad to get remittances back to pay debts

    Deregulation
    - Government can’t interfere

    Privitization
    - Water, Education, Healthcare, Transportation, Electricity
    - Transnationlal companies “expoloited” / Flexibilization of labor

    3. what are the major problems/challenges of globalization?


    Neoliberalism concept- free market capitalism
    IMF + World Bank - get everybody on board to participate on the new global economy
    - promoted giving loans to global south states
    - Structural Adjustment Programs (SAPs) - conditionalities for loans from IMF and WB
    - gave high inflation rates
    - worsened the economy in many parts of the development world, many countries cannot come
    out of debt because of the debts
    - By devaluing the currency and simultaneously removing price controls,

    Labor Expert Programs (LEPs)


    - State-sponsored labor migration
    - Send people abroad to get remittances back to pay debts

    Deregulation
    - Government can’t interfere

    Privitization
    - Water, Education, Healthcare, Transportation, Electricity
    - Transnationlal companies “expoloited” / Flexibilization of labor

    4. how does globalization affect development?


    - Globalization and Global Capitalism have deepened the rift between First/Third World or
    North/South divides.
    Clinical economics: in order to achieve development, u must first break the poverty trap
    Official Development Aid is crucial to provide health, education and infrastructure, and because it
    makes up a significant part of the total income of many countries.
    Help these countries gain a foothold on the ladder: The rich countries do not have to invest enough
    in the poorest countries to make them rich: they need to invest enough so that these countries can
    get their foot on the ladder. After that, the tremendous dynamism of self-sustaining economic
    growth can take hold.” Thats the beauty of globalization in the Global north, you can be catalyst of
    development
    PROBLEM: Western countries are not willing to provide aid; globalisation has been turned to an
    arena of who can be the strongest, yet the weak and countries at the bottom are forgotten

    5. what do you mean by development? difference between growth and development


    development is multi-faceted (social, economic, political, cultural) and its goal is to improve the
    quality of life. people-centered. GDP growth is a measure of growth but not development because
    it gets a sense for how important a country is to the global economy and the prospects for trade
    between nations, among other things. Yet, for the most part, it is not the number we should obsess
    about. A boost in GDP doesn’t mean a boost in development. development can be related to the
    freedoms, quality of living, human development index, gender-related index

    6. how can we measure development? why do we have to measure it?


    - freedoms accdg to amartya sen is essential to development because these are considered as
    building blocks + freedom enriches human life > maslow’s hierarchy when u get to to
    empower and let people actualize themselves then they can become productive and happy
    members of society > progressive society
    forms of unfreedom: lack of social security, employment, limited civil & political rights,
    undernutrition etc
    - political freedom: democracy
    - economic facilities: individuals get to enjoy a free market
    - social opportunities: education, healthcare
    - transparancy guarantees: relationships are built on trust
    - protective security: unemployment benefits
    with these forms of freedom you get to enlarge the choices of humans in overlapping sectors such
    as economic, social, cultural and political

    7. what are the major characteristics of developing countries?


    from an economic point of view, by Jeffrey Sachs’ “The end of Poverty”
    Malawi – Malaria and AIDS infested rural backwater, largely cut off from international trade –
    represents the four billion people trapped in extreme poverty – living on less than $1 a day
    Bangladesh – ‘on the ladder of development‘ integrated into the international economy but at the
    bottom end of it, ‘sweatshop’ labour but also increasing amounts of micro-financed businesses
    which offer hope for more independent economic development – represents the poor – or the 1.5
    billion people living on between $1-$2/ day
    India – at the centre of an export services revolution – is provided as an example of a country
    that is increasingly populated with people on ‘middle incomes’ – with increasing numbers of city
    dwellers working for Transnational Companies and related home-grown business earning $250 -
    $400 a month – although India is a country of extremes – with many in rural areas living on $1-2 a
    day

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