The Globalization-Deglobalization Policy Conundrum Literature Essay

THE GLOBALIZATION-DEGLOBALIZATION POLICY CONUNDRUM
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THE GLOBALIZATION-DEGLOBALIZATION POLICY CONUNDRUM
Introduction
The author’s main intent is to explore and explain the economic globalization and deglobalization conundrum that has existed in the last 250 years. The author asserts the economic globalization and deglobalization has been occurring in various stages. The diffusion models reveal that when the global economy is booming, globalization policy issues take center stage. However, when the global economy is on a decline, these issues are set aside (Karunaratne, 2012). Conventional models also reveal the various underlying causes of the policy conundrum and the rationale that can be used to reshape the global financial structure, which is focused on reducing the global economy vulnerability and the recurrent crises.
One of the issues relating to globalization and deglobalization has been the concern of reduction of poverty and income inequality. The deglobalizers argue that despite there being numerous globalization waves, it is estimated that over a billion people still remain below the poverty line (Karunaratne, 2012). However, globalizers assert that although a large population is living below the poverty line, data from the last two decades reveal that the population living below the poverty line has greatly reduced. The reduction has been particularly in the emerging markets economies such as East Asia, South Asia as well as oil producing nations in the Middle East and Sub Saharan Africa.
Reasons Why when global economy is booming; globalization policy issues take center stage. However, when the global econom...