Sunday, August 25, 2019

Globalization and Inequality in Developing Nations Research Paper

Globalization and Inequality in Developing Nations - Research Paper Example However, globalization has progressively changed these aspects thereby introducing a new view and ways of governance, conducting business and living. It has been argued that gradually, globalization leads to a rising tide of income for particular groups in developing nations thereby creating inequality (Yusuf 32). Opponents of globalization, on the other hand, argue that while the aspect does improve overall income standards (in the eventual long run); such benefits are however not shared equitably, amongst a nation’s citizenry population (Yusuf 34). Moreover, they are concerned with the fact that widening income disparities, do not only raise both social and welfare concerns but that they also do limit the pertinent drivers of growth and industry. This is informed by the fact that the various opportunities created by the process, may not necessarily become fully exploited especially by the low-income earning bracket (Yusuf 36). Thus ultimately, they envisage the sustainability of the process (globalization), being adversely affected by the rising standards of inequality. This is despite its dependence on the maintenance of broader support across not only state but also global populations (Yusuf 37). This is perhaps the main reason why there continues to exist, continuous heated debate, on the need and importance of the process of human development. Without doubt, the process of globalization has benefited mankind and at the same time brought a cost to overall social contexts through inequalities.

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