The free trade has been beneficial for some countries, but has left developing nations in a perpetual state of struggle. According to Kamal Ahmed, who is a specialist in the field of Economics and a journalist for the BBC, a report published by the World Bank highlighted the fact that such trades might lead to wage differentiation.
The internal memo also states that while such ventures create a lot of job opportunities and many advancements in economies, every pro still has its cons.
“While trade may have contributed to rising inequality in high-income economies, so has technological change and the weakening of institutions that used to represent the interests of labour,” highlighted Kamal Ahmed from the document. “Given overall efficiency gains, the dislocation effects of trade in advanced economies must be addressed through stronger safety nets and enhanced skills and flexible labour markets.”
According to Dr Jim Yong Kim who is the President of the World Bank, he told Ahmed why the developing nations dislike free trade. Dr Kim said that people have a problem with the psychology of it; they say that since their lives were not any better, so the lives of their children wouldn’t benefit either. He says such problems bring forth social security challenges concerning a vivid society of people with different mindsets – to which the government should assist and bring forth economic programs for their people, to close in such gaps.
Dr Kim also stated that if the developed nations wanted to end their poverty by 2030, they wouldn’t be able to do so because due to the stagnation of worldwide economic growth.
“We can build all the infrastructure we want and we can increase trade among the emerging market countries, [but] at the end of the day if global trade does not grow at a more robust rate it is going to be very hard to make those targets,” says Dr Kim in the interview with the BBC. “If all the developed countries close their borders, it’s going to be very difficult and it’s going to be very difficult for those countries as well.”
Source: The BBC, RT
You want to support Anonymous Independent & Investigative News? Please, follow us on Twitter: Follow @AnonymousNewsHQ
This article (The World Bank Report Says Globalization Brings Inequality) is a free and open source. You have permission to republish this article under a Creative Commons license with attribution to the author and AnonHQ.com.
relative to what??? is it really necessary to say or mention???
Duh, one size fits all NEVER FITS ALL!
sure sure astrobiology intraspecies communication explains how beings need to be natural and free to be able to communicate and transmit all emotions and ideas with all beings kinds and types freely… like talking with animals and trees and have feelings for water and earth… free to transmit emotions and ideas and feeling pure natural forces with them without second intentions and as any being were born from same nature can transmit to any other being. an idea that any other being can understand or follow purely concretely normaly naturaly. the black cat in the matrix means ‘I have saw and felt this nature force presence in nature and existence and it has the same natural forces pure feeling’… subconsciouness is in the deepness of the mid and being and relative with the being beingness form itself and the universe and value blueprint of the nature that surrounds or is common to all beings and forms of life. so they are trying to escalate… who inbetween all people 1 by 1 in all wants exactly the tech in the movies and knows reach and realy can accomplish that… or any other energy science behind beyond the movies?