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M3D1 Assignment Paper: Economic Aspects of Globalization (Research Paper Sample)


This activity will enable you to 
•Provide a variety of perspectives on the different dimensions and complexity of globalization
Before beginning this discussion, please read pg 197 Chapter 23: Global Income Inequality by the Numbers: In History and Now: an Overview; and pg 202 Chapter 24: The Bottom Billion: Why the Poorest Countries Are Failing and What Can Be Done About It – which are part of your required reading
Then, answer the following questions:
• What is the “poverty trap” that Paul Collier describes, and how does it hold back income growth in poor countries?
• How does the inequality that Milanovic describes become altered by the experiences of China and India?


M3D1: Economic Aspects of Globalization
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M3D1: Economic Aspects of Globalization
The poverty trap according to Paul Collier is the differentiated lack of development in some of the countries when compared to others. The trap is essentially the development failures when deemed that other nations around the globe are under the success paths. Using the chutes of ladders and tables, poverty traps show the divide on areas some governments have been placed amongst others. Income growth is held back in the developing countries, which are poor as they try to bridge the economic ladder (Collier, 2007). Since the majority of the developmental projects or goals are not achievable in the meantime, the provision of the necessary requirements becomes the focus. Thus, income growth does not feature heavily in the process as the countries try first to create opportunities to utilize resources and translate in...
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