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Economic Globalization

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Over time, globalization has contributed to the economical aspects of Global North and Global South. While every country in the world hopes to economically benefit from globalization, the Global South wasn’t getting there. Economic globalization has helped integrate many countries into the global trade market. Countries in the Global North such as China and India have benefitted greatly by opening up their trade market. This provided people with job opportunities and higher incomes. But while the countries of the Global North continue to economically increase of because of trade market, the demand for imports and exports from the Global South become inevitable. As the Global North demand for more resources from the Global South, countries of the Global South don’t benefit from the situation. Countries such as Africa and Uganda have their resources exploited and continue to suffer from economic globalization. Within decades, globalization has continuously benefited the Global North. Countries such as China and India are great examples. Meredith, Hoppough, and Basu all explained the prosperity that the people have received from globalization. Economic globalization allowed China and India to create more business while providing more job opportunities for many people with the idea of higher wages. However, poverty rates continued to decline. According to Meredith and Hoppough, over 200 million people in China escaped poverty in the 1990s due to globalization. But not only did these people escape poverty; many of them were given the opportunity to upgrade to the middle class. While the number of people in poverty continues to decrease in China, the number of people being employed in India is also continuing to increase. Basu explains the increasing amount of people who are now employed in the handicrafts exports sector. This is because of the demand for handicrafts in

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