Thursday, November 21, 2019

Globalization Essay Example | Topics and Well Written Essays - 750 words - 7

Globalization - Essay Example To justify his claims on the benefits of globalization, the author made use of quantitative data such as reports published by the World Bank and UNDP. The first data cited by the author is the one made by World Bank in 2002 citing that countries that integrated with the world market have experienced rapid growth in terms of GDP ( Wolf p512 ). Similarly, the author also supported this argument by citing the 2003 Human Development Report from UNDP that certain east Asian countries experienced remarkable GDP growth ( p. 511 ). Aside from the secondary data that the author used, he also drew examples from his own first-hand experience as senior divisional economist of World Bank in India during the 70’s. He himself has witnessed the effect of globalization to the standards of living of the people in India. The author tried to present a balanced view of the advantages of globalization not just by citing China but by explaining the growth of even â€Å"hopeless† countries suc h as Bangladesh ( Wolf p.514). The important part of the article dwells on his arguments on why economic integration was not successful in some countries. The author mentioned the interplay of endowments ( natural resources ), institutions ( government ), and policies as obstacles to a country’s development ( Wolfe p 514 ) . The arguments were compelling since he cited Gunnar Myrdal’s theory on underdevelopment regarding â€Å"soft states† or countries that lack political will as manifested by rampant corruption. Consequently, Wolf also linked this factor to the endowment of natural resources as cause of conflicts within since this â€Å"curse resources â€Å" provoke civil wars as in the case of most African states which I disagree with since culture and lack of education may have created this kind of socio-political environment. Lastly, he also cited the importance of choosing the right economic

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