Is globalization creating prosperity for some, yet devastation and poverty for others?
This is a worldwide process that interacts and integrates interregional and international levels. The relations are social, economic, and political, with technology as a key driver. Globalization is attained characterized by; first, there must be an integration of political, social and economic activities at national, regional, and international level. Second, a local event in a given nation can spread to affect the whole world, due to the speed of spreading of the information in a globalized world. Third, there is massive linkage of global transport and communication systems, which facilitates the spread of ideas, goods, and services (Popoveniuc, 2014). Lastly, globalization is characterized by the growing volume of trade that is facilitated by the flow of finances, persons, and finished goods. Globalization can be marked with negative and positive effects, where it had gained prosperity to some nations, and some have been subjected to poverty.
Neoliberalism is a politico-economic concept that define the realization of personal liberty in conducting free trade under minimal government involvement (Hebron & Stack, 2009). In neoliberalism, the government is expected to allow the privatization of trade and remove barriers, for instance, by reforming tax policies to ensure the trade is lucrative (Ritzer, 2011). Terms of neoliberalism promote a global move…
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