THE IMPACT OF GLOBALIZATION ESSAY

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24-7-custom-writing-serviceTHE IMPACT OF GLOBALIZATION PAPER

THE IMPACT OF GLOBALIZATION ASSIGNMENT

 

The North – South divide is a terminology used in the socio-economy in reference to the “rich and poor” divide. It refers to the political and socio-economic segregation that is found between the affluent countries, eminently referred to as ‘the North’ and; impoverished countries, prominently referred as ‘the South’. The concept of a division between the developed North and the underdeveloped South has for the longest while been utilized as the chief notion among the policymakers and economists. Between the period of the 1950 and the 1980s, the north accounted for approximately 80% of the international GDP, this presented 22% of the global population. Simultaneously, the south accounted for the rest of the population, which accrued 20% of the international income[1].

According to Wolfensohn[2] the segregation between the first world countries and the third world countries has perpetually become obsolete due to advanced technologies and the rise of globalization process. According to this economist, globalization has imposed an unprecedented levels of both interdependence and growth in economies hence blurring these frontiers. The study undertaken by this economist holds that while the north – south divide has been eradicated, there has been a novel form of segregation that has divided the world into four major unified tiers[3].

According to the chronicle put forward by Wolfensohn[4], the first tier is comprised of affluent states such as the European countries, Japan, United States and Australia. The study revealed that these states have a combined population of approximately one billion, which accrues an approximate income ranging between $79,000 in Luxembourg and $16,000 in

 

[1] Wolfensohn, James. Globalization blurs North-South divide. The Japan Times. November 2007.

[2] Wolfensohn Para 2

[3] Ibid

[4] Wolfensohn Para 3................GET AN AFFORDABLE PLAGIARISM FREE COPY