...How are different governments trying to solve poverty compared to Hong Kong’s in the past 10 years? What is poverty? Poverty is about not having enough money to meet basic needs including food, clothing and shelter. However, poverty is more, much more than just not having enough money. In addition to a lack of money, poverty is about not being able to participate in recreational activities; not being able to send children on a day trip with their schoolmates or to a birthday party; not being able to pay for medications for an illness. These are all costs of being poor. Those people who are barely able to pay for food and shelter simply can’t consider these other expenses. Global perspective Many countries around the world have people living under the poverty line. But many countries in Africa are suffering major cases of poverty. There are other bigger countries that suffer major cases of poverty such as India and China. In this essay I will be focusing on how India, China and the United States of America try to solve poverty in their countries. The United States of America has a population of 317,128,000, which is the third biggest country in the world after China and India. In 2008 35% if the American population lived in poverty and now in 2013 around 15% live in poverty which a huge improvement. Kiryas Joel, New York is a city in the United States, which has the lowest GDP (Gross Domestic Product), with a population over 10,000. The main reasons people...
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...non-Western countries that have been impacted by globalization are India and China. India opened its doors to globalization during the nineteen nineties following an economic crisis in which the country almost defaulted on loans (Balakrishnan, n.d.). Before globalization India purposely isolated itself from world markets and was in a state of economic stagnation (Nayar, 2007). This stagnation left the country in profound poverty with no industrial growth. The people of India faced other challenges as well such as illiteracy, government corruption, and malnutrition (Wikipedia, 2013). In the years since globalization industrial growth has occurred at a rate of about 6.5 percent that has thwarted any reoccurrence of economic decline and a poverty rate at 26 percent that had previously been 55 percent (Nayar, 2007). China too, has benefited from globalization. In 1978, Deng Xiaoping established leadership of China. Unlike Mao Zedong, Xiaoping embraced globalization and demanded economic change that he believed would ensure the safety of communist rule (Yahuda, 2003). Like India, the people of China lived in poverty before globalization occurred. In the 20 years since that time China has experienced a growth rate of over 9 percent and has become the 5th largest trading nation and has the 6th largest economy with millions of people no longer living in poverty (Piexin, 2003). The globalization of China was brought about after the end of the Cultural Revolution...
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...Impact of globalization on non-western cultures China Globalization has reached to practically every corner of the globe. It brings to the world an exchange of information, goods, services, economy, and awareness of other cultures. Two cultures that have benefited from globalization economically are China and India. China is an excellent example of how globalization has transformed a once stagnant economy into an economic super power. Change occurred as a result of international influence from the United States. The United States had hopes in the Chinese economy and realized the capabilities China possessed in the export of goods to the United States and other countries. The United States helped China become aware of how shut off it had become from a growing global economy and helped to make them aware of the positive impact an open economic system could have on its nation. In 1986, China began to work towards joining the World Trade Organization. In 2001, China finally joined (China and the, 2014). The United States had a major role in China’s decision to open their economy, and they supported the effort fully. The influence on China from globalized nations was both direct and indirect. It was direct because countries such as the United States, worked closely with China during their admission to the World Trade Organization even requiring changes to the Chinese economy before they would be allowed to proceed. The influence was also indirect as the Chinese government...
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...developing countries and also giving them access to a wider and cheaper variety of products. The world is changing constantly and with all the advances of technology, communication with remote places is more affordable and faster. Globalization is happening, even when it has some critics. “The Pew Global Attitudes Project” states “people generally view the growth in foreign trade, global communication and international popular culture as good for them and their families as well as their countries.” However, the negative effects of globalization cannot be ignored. Air pollution is rampant and in developing countries like China, people are dying. Globalization has reduced poverty in 3rd world countries but it has also deteriorated their air quality. Globalization feed the hungry. In developing countries as China, poor people live out of nothing. IN “Poverty Facts and Stats” Anup Shah reports that “more than 3 billion people in the world live on less than $2.50 a day. They people have nothing to lose just because they don’t have anything that is a very serious problem, but in a poor country where there is not a lot of money, and for a lot of them, money has to come from somewhere else. When a country is struggling that much, globalization is a good solution. Not only cheaper products are going to be available, also big companies are going to invest in the country opening great opportunities of employment. The labor force grows and the income too. At least more people are...
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...Economic globalization benefits worldwide poverty reduction By Hao Fan 02/20/2016 Globalization, the integration of economic networks that span multiple countries, influenced people in many aspects. If you go to a supermarket and able to buy French wines African coffee beans as well as Germany sausages, you are enjoying the convenience of globalization. According to Reem Heakal who wrote What Is International Trade?, he said “International trade allows us to expand our markets for both goods and services that otherwise may not have been available to us. It is the reason why you can pick between a Japanese, German or American car. As a result of international trade, the market contains greater competition and therefore more competitive prices, which brings a cheaper product home to the consumer.” As it does more than this, the economic globalization largely benefits the world wide poverty reduction. The first reason that globalization helps reduce poverty is based on one of the most essential economics concept-comparative advantage. Basically it means when countries are trading with others, they are allowed to specialize in the areas they good at and therefore allocate the resources more efficiently which will result in more benefits for every party involved in trades. Take China and United States as an example, given that china has relatively low cost of labor and the US is more sophisticated at advanced technology, it is natural or beneficial for Apple company to choose design...
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...research paper Introduction China has become one of world's most promising economic power. Since 1979 Chinese market has a great and quickly growth. Enter the twenty-first century, the Chinese economy has maintained steady growth. Although less than expected, but China's GDP growth still reached 9.1% in Q3 2011. "China's gross domestic product expanded at the slowest pace in nearly two years in the third quarter. GDP growth moderated to 9.1 percent in the third quarter from 9.5 percent in the second quarter. On a seasonally adjusted quarter-on-quarter basis, GDP rose 2.3 percent following a revised 2.4 percent gain the second quarter". (www.TradingEconomics.com) This situation shows China's economic growth is still high. Why China has this success, because China has many advantages. For example, low cost labor and a huge mark. China's economic advantages China's main advantage is the production capacity and low cost labor. The main reason is China's huge population, and the rich natural resources. Today China has become the famous factory of the world. China's cheap labor and huge market has attracted a lot of foreign investment. These investments have brought to China a lot of money, but also provides science and technology and management experience. First, Chinese low cost labor. This is China's primary advantages, most Chinese factories are located in the eastern region, mainly due to convenient transportation and a good industrial base. In China, many poor people are come eastern areas looking...
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...stories has been the rise of India and China, two of Jim O’Neill’s “BRIC” countries (FT Magazine, 2010). Despite the implementation of different economic policies (Gupta, 2008) both countries have emerged as major economic forces in the global economy (Bosworth and Collins, 2007), most notably since 1980. Since then, India and China have experienced a significant reduction in poverty with China lifting 500 million out of social deprivation. According to the World Bank (2013), China has had an average GDP of 10% each year while India has seen her GDP double over a similar period. The countries are often compared due to their large population and geographical vastness as well as climbing from third world countries to major economic forces in a relatively short time. However, despite a significant increase in GDP, India has failed to demonstrate the same rates of growth as China. Although both countries were in a similar position during the early nineties, China’s GDP has increased 7 fold since this time; whereas India, although steady, GDP has doubled. The average annual rate is by 10% in China compared to 5-6% in India (see Figure 1). The purpose of this paper is to compare the rates of growth of India and China over the past 30 years and examine possible explanations for this phenomenon. The economies of these countries are underpinned by social, economic and political issues which have all been relevant to their growth. China has placed emphasis on investment over...
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...relationship between globalisation, inequality and poverty. The term globalisation refers to the process by which the world has become more connected through advancements in technology, transport and communications and resultantly become integrated in many areas of life. For the purposes of this essay, one will be discussing the relationship between primarily economic globalisation, poverty and inequality in what many have referred to as the ‘third wave’ of globalisation, which has been prominent since the 1980s. Advocates of economic globalisation, understood as “the widening, deepening, and speeding up of worldwide interconnectedness” (McGrew in Ravenhill, 2005: 275) suggest that economic advancement through globalisation is a by-product of well-functioning markets; that countries should specialise in line with their comparative advantage; and that countries should practice free trade as a guiding principle. (Wade, 2004a: 184) Still today there exists huge economic inequality both within and between countries, and mass poverty is an issue which is still high on the agenda of world leaders across the globe. Yet data from the World Bank has shown that the number of people living in extreme poverty, of which it classifies as those living on less than $1 per day in Purchasing Power Parity (PPP) has fallen in the last two decades for the first time in 120 years. (Wade, 2004a: 163) The relationship between globalisation, inequality and poverty thus seems to be one which is subject to highly...
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...example, in the diagram below, an increase in the skills of the workforce will enable firms to produce more output at any given price so that the aggregate supply curve will shift outwards from AS1 to AS2. This entails an increase in full employment output (or capacity output). China is the world’s fastest growing major economy, with growth rates averaging 10% over the past 30 years. China is also the largest exporter and second largest importer of goods in the work. China is the largest manufacturing economy in the world. In the past two decades, China’s economy has been developed very rapidly. The growth of China’s income per capita is much faster than that of any other region in the world. Economic growth in China has had a number of economic and social benefits. The first benefit of economic growth is the improvement in standards of living. There is also the easing of poverty in developing countries, as absolute poverty can de reduced. According to China’s national poverty line, rural poverty population has dropped from 250 million in 1978 to 28.2 million in 2002, decreasing by 88.7%. The main factor contributing to the decrease in poverty in China, is due to their economic boom. Also, investment in human capital will improve standards of living further in the future. Not only will standards of living...
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...of the world and in both developed and developing countries. Globalization has had a tremendous positive impact on poverty reduction. The increasing integration of developing countries to the world economy has led to a reduction in extreme poverty. According to the World Bank, 52 per cent of people living in developing countries lived in extreme poverty in 1981. By 2011, this has decreased to only 17 percent. Large developing countries like India and China experienced rapid decreases in extreme poverty. While China experienced rapid economic growth due to globalization, it lifted 680 million people out of extreme poverty between 1981 and 2001. The significant reduction in poverty in the developing world shows the beneficial effect of globalization on poverty reduction. Globalization opened up developing countries to the world economy. Developing countries experienced substantial inflow of foreign direct investment, technological inflow and the opportunity to serve a substantial customer base in the developed countries. This led to the setting up of factories and companies that employed increasing number of workers and helped them to move out of poverty. The last few decades have been characterized by the emergence of a growing middle class in the developing countries. This has especially happened in the fast growing developing countries like Brazil and China. Over the...
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...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...
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...been impacted by globalization are India and China. India opened its doors to globalization during the 1990's following an economic crisis in which the country almost defaulted on loans (Balakrishnan, n.d.). Before globalization India purposely isolated itself from world markets and was in a state of economic stagnation (Nayar, 2007). This stagnation left the country in profound poverty with no industrial growth. The people of India faced other challenges as well such as illiteracy, government corruption, and malnutrition (Wikipedia, 2013). In the years since globalization industrial growth has occurred at a rate of about 6.5 percent that has thwarted any reoccurrence of economic decline and a poverty rate at 26 percent that had previously been 55 percent (Nayar, 2007). China too, has benefited from globalization. In 1978, Deng Xiaoping established leadership of China. Unlike Mao Zedong, Xiaoping embraced globalization and demanded economic change that he believed would ensure the safety of communist rule (Yahuda, 2003). Like India, the people of China lived in poverty before globalization occurred. In the 20 years since that time China has experienced a growth rate of over 9 percent and has become the 5th largest trading nation and has the 6th largest economy with millions of people no longer living in poverty (Piexin, 2003). The globalization of China was brought about after the end of the Cultural Revolution that had kept China isolated from the world in...
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...attractive proposition than western multinationals? - MSc BD7 Ping SUI Introduction: As an important global player and the main drive for economical growth, China’s massive investment in Africa has drawn the world’s attention. People can see European multinationals everywhere in Africa in the 80s, while now Chinese companies seem to take over the leading role. For example, in Angola, China helped to build the Angola Benguela railway, which is the longest railway Angola has had so far; in Nigeria, Chinese Telecom companies “Huawei” has a dominating presence both in fixed and wireless services by taking more than 90% of the market share. Not only can you find commodities made in China everywhere, but Chinese companies now build the infrastructures in many African countries too. On the contrary, the presence of European multinationals is not as strong as the Chinese ones: the amount of the funds flowing from Europe to Africa has decreased from 70% to 17% since the 70s; Western Europe’s share of overall international trade with Africa has decreased from 51% to 28%, while China has taken the place and become the biggest trading partner Africa has by surpassing America in 2009. Why are European MNCs less and less preset in Africa? What are the difficulties they have encountered? Do Chinese companies have same barriers? Why do the Chinese companies find the African market less risky and more attractive compared to the European multinationals? In this essay, the questions...
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...Eradication of Poverty and Extreme Hunger Not everyone is born into a rich family. Those lucky enough to have been born into one have a responsibility to help those not so blessed. The United Nations' job is just that. They are an international agency whose aim is to eliminate poverty, illiteracy, and disease, stop environmental destruction, and encourage democratic rights and freedoms. Poverty and extreme hunger are something that are affecting most country in the world; no matter how big or small, rich or poor. This issue causes the most pain today, and is also the biggest threat to a person's future. Eradicating poverty and extreme hunger are the top priority of the United Nations in the 21st century because it will reduce the amount of malnutrition in people and improve their education. One of the reasons why poverty and extreme hunger must be eradicated is because without it there would be a dramatic drop in the number of malnourished people around the world. Poverty and hunger can affect young and old and is the biggest contributor to malnutrition. This can be seen in the Central American country of Guatemala. The Guatemala Poverty Assessment states that, "There is a strong correlation between poverty and malnutrition, as four fifths of malnourished children are poor" (Guatemala Poverty). In politics, a 66% super majority is rarely required when deciding on an issue because of the difficulty in achieving it. Therefore, when a supermajority is achieved, it can always...
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...The People’s Republic of China Positions for the Group of 77 (G-77) ______________________________________________________________________________ I. Examining International Terrorism: Developing a Joint Proposal for Counter-Terrorism Efforts The People’s Republic of China recognizes the need for the international community to adopt a comprehensive approach with cooperative measures in a multi-faceted method to combat global terrorism. The world has experienced decades of pointless terrorist attacks--in particular, the tragic loss of life on September 11th, 2001 in The United States. As proven throughout history, force alone cannot fundamentally resolve disputes and conflicts, and the national concept of security based on the use of force and the threat to use force can hardly bring about lasting peace in today’s world. Against this backdrop, an intensive cooperative security measure featuring dialogue and cooperation has emerged as the new global agenda. China’s security concept seeks common security against terrorism threats in developing nations through mutually-beneficial cooperation established through international cooperation against the use of terrorism. Terrorism is a result of complex array of political, economic, and social factors which cannot be resolved by military force alone. Only through strengthening of dialogue and cooperation between nations throughout the world can a fundamental approach to common security be achieved. Estimations show that global...
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