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.
Can you take a better picture please
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Explanation:
under colonial rule by Spain from the 16th century to the 19th century, and briefly by Great Britain during the 18th century (1763–1783) before becoming a territory of the United States in 1821.
