Globalization And The International Wealth Gap

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Globalization: The Direct Route to the International Wealth Gap Globalization has held a significant place in the lives of people around the world. It is thought of to be a means of creating equality among nations. Goods would be traded across borders allowing for the standard of living in poor countries to improve. The United States has certainly benefited from globalization when considering the fact that it is the nation with the most wealth. Despite recent economic hardships the United States remains relatively successful in comparison to other developing nations. However, globalization has had a negative impact when taking into account its direct correlation with the increase in the international wealth gap. A great number of people argue that globalization creates a world free market, increase in job opportunities, and promotes cultural unity among countries. Despite this belief, globalization also results in military, economic, and cultural imperialism contributing to the international wealth gap. The solution is to implement a more balanced system in order to create the equal exchange of ideas, goods, and culture eventually leading to more autonomy among developing nations and an increase of global aid to end poverty. One of the benefits of globalization is the presence of a world free market which ultimately promotes economic growth between nations. It increases free trade between nations and gives access to wider markets. Essentially, businesses have more opportunities for investment and are not constrained solely by domestic investments. When considering specific multinational corporations such as Nike and Coca-Cola, it is evident that trading and selling abroad was very beneficial. As Walter LaFeber states, “For the corporations that drove the U.S. economy, and on which nearly all Americans depended directly or indirectly for their economic
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