I looked to the National Bureau of Economic Research, who recently published Globalization and Poverty. Here’s what I found out:
Some studies show that globalization has been associated with rising inequality, because the poor do not always share in the gains from trade. An example of this is the coffee trade. Coffee is the second most traded commodity in the world, yet most of its growers only make 10% of what it eventually sells for. However, when farmers have access to credit, technical know-how, and social safety nets such as income support, trade can benefit the world’s poor.
The book argues that export growth and incoming foreign investment have proven to reduce poverty. But, at the same time, trade and foreign investment alone are not enough to alleviate poverty. Increasing access to education and credit, as well as improved infrastructure, are necessary in order to see real progress. Echoing that idea, Harrison concludes that globalization can benefit people living in extreme poverty, but only if the appropriate complementary policies and institutions are in place.
Answer: The manuscript found in the cave mentioned The travelers had a variety of concerns, such as
- legal matters like leaving a proper will (since the route in silk road was not particularly safe)
- Or whether their goods would arrive at the destination without defects that may occurred at the road.
Explanation:
Economic development is able to continue in the absence of the resources that first drove it because:
- Countries can trade to get the resources
- Economic development allows for diversification
When a nation is unable to access the resources that made it quite successful, it can resort to buying that resource and then improving on it.
For instance, the U.K. used to produce sufficient coal but now import more than they produce.
Another way a nation can continue developing is diversification. The income gained from the resource that has now finished, will enable a nation to go into other economic activities which will continue their development.
For example, China used to export only agricultural goods but diversified into industrial.
In conclusion, a country can keep developing if their primary resource is finished thanks to trade and diversification.
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Answer:
similar coastal rock formations. b)
