Globalization and Its Effects on Poverty

After the break-up of the Soviet Union, globalization accelerated through the world. It includes the increasing integration of countries' individual economies, the rise in the world trade and multinational companies and the effect of large sums of money moving in and out of economies. People around the globe are more connected to each other then ever before. Information and money flow more quickly than ever. Goods and services produced in one part of the world are increasingly available in all parts of the world. International travel is more frequent. International communication is commonplace. This phenomenon has been titled "globalization". It cannot be denied that globalization has had an overwhelming positive influence. Millions of jobs have been opened up through the ever increasing productivity and efficiency of the global economy(MConnell and Brue 93). However, as we see globalization helping many countries' economies, we also see that globalization forces many of the world population who are in poverty to stay there and several poorer countries are being lost in the frenzy of a global economy.…