Economic Aspects of Globalization

Economic Aspects of Globalization

This activity will enable you to

  • Provide a variety of perspectives on the different dimensions and complexity of globalization.

Before beginning this discussion, please read Chapter 23: Global Income Inequality by the Numbers: In History and Now: an Overview; and Chapter 24: The Bottom Billion:  Why the Poorest Countries Are Failing and What Can Be Done About It – which are part of your required reading.

Then, answer the following questions:

  • What is the “poverty trap” that Paul Collier describes, and how does it hold back income growth in poor countries?
  • How does the inequality that Milanovic describes become altered by the experiences of China and India?
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According to Paul Collier, a poverty trap refers to a self-reinforcing mechanism that leads to the persistence of poverty in a nation, thereby leading to a condition known as cycles of poverty (Collier, 2007). The trap is commonly witnessed in the poor nations in which several…
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