What would be the Global Benefit?

The gap between the hurls and the have nots has been growing steadily over time. The statistics be heartrending. Of the areas magnanimous population, 2% own enceinteer than 50% of the gentlemans gentlemans theatre wealth. Additionally, the upper 1% of the humankinds adult population, as of the twelvemonth 2000, owned about 40% of all the worlds assets. Further, 10% of the worlds richest wad account for 85% of the worlds wealth. Sadly, the bottom 50% of the worlds adult population only manages 1% of the worlds wealth.These statistics can only be described as sable (Davies, Sandstrom, Shorrocks & Wolff, 2006). According to the World Economic and Social Survey carried out in the year 2006, the growth of the worlds developing countries is dependent on domestic policies as headspring as the regional environment and globular economic environment (Reducing world-wide Inequality, 2006). Since it was found that developing countries are growing at a much little rate than their d eveloped counterparts as far as technological advances are concerned, changes need to be make to make growth and culture feasible.These developing countries are finding it concentrated to come up with new activities that leave strengthen the countries economy (Reducing International Inequality, 2006). Some of the changes that need to be make include the following thither is a need for macroeconomic stability with does not just look on low inflation, but includes the avoidance of fluctuations in business cycles as sanitary as financial crises and external imbalances. This will incr move investment and gain growth within the country (Reducing International Inequality, 2006).The developing countries will alike need to realize new institutional reforms, guarantee property rights and create new food markets. Institutional frameworks and regulations that are needful for the flourishing of markets mustiness excessively be provided. The necessary public resources to ensure a thri ving market should be put in place and rules must be median(a) across the board (Reducing International Inequality, 2006). globalisation has done a great job of opening up governments to the idea of a free-market. This in looseness has opened up new opportunities in global slyness as well as investment.With new markets comes a new potential for takings to correspond the demand, hence more income for the individual and the country (What is globalization? ). Globalization may help reduce the economic imbalances by renegotiating barriers that may be there in commerce, thereby establishing favorable agreements that will encourage trade in services, goods and investment. This is great for fostering foreign partnership with different corporations prospect up shop in a developing country of survival of the fittest bringing, employment opportunities and skills transfer to the people of the land which they can use in the future.This then increases their household wealth and raises th e standards of the people closing the distinction gap. engineering science also has a great role to play. The internet for instance has made it possible for mevery people in developing countries to engage in e-commerce (What is globalization? ). This has transformed the economic lives of many people, especially computer literate person youth. The advantages of information technology are vast and touch the lives of investors, consumers and businesses. People in any nation are able to learn about opportunities in a timely manner, which allows them to pursue the said opportunities faster.Additionally, the analysis of economic trends is faster. quislingism and communication with partners in far away countries is instant and assets can be transferred at the click of a button. All these are ways that globalization opens up developing countries to opportunities all over the world and if maximized, these opportunities can persist to economic uplifting. (What is globalization? ). One ca nnot forget those that have no twoer to the internet though, or cannot afford it. According to the World victimization tell 2007, majority of the worlds little depend on agriculture for their livelihood.75% of the poor people in the world live in rural areas, of these 86% are dependent on agriculture (Boyne, 2007). Therefore one cannot speak of the development of wealth equality without addressing the issue of agriculture. According to this report, in order to meet the millennium development goal of reducing poverty and hunger by 50% by the year 2015 in these poor developing countries, clownish development is a must. In order to make agriculture the headstone of rural development it is important that the local authorities in any country make the environment suitable and supportive.Additionally, fair rules trade both nationally and internationally must be established, mitigating climatic changes as well as adopting to them and benefiting the poor (Boyne, 2007). The US being c ounted among the developed and richest countries in the world is often called upon to assist or give aid to countries that are less fortunate. The capital used for such(prenominal) reenforcement is gained from the American tax payer. If the nations of the world were more stable due to equality in wealth distribution, it goes without aspect that many of those countries would require only a fraction of the said funding or none at all.The US could then use the finances to carry out other projects or fund social programs such as welfare for those within the country that need the help. Additionally, social protective cover pecuniary resource would not be used to fund other programs lead-in to a deficit and fear as the baby boomers reach seclusion age. More funding would go into research, fortifying the military or homeland defense, as well as many other projects that would be beneficial to the country. This would ease political tensions and bickering and allow elected officials to work without distraction.Internationally, it would enable to worlds countries to interact as equals. The dominance asserted by the nations lending aid to poor countries would cease. This would reduce anti American sentiment in many of these poor nations. The opening of global markets is the best way to deal with the issue of odds-on wealth distribution. Setting fair international trade regulations will be of great benefit towards this endeavor and agriculture, the main livelihood of the very poor, must be addressed.Benefits of this will be enormous to the US as it will enable the country to retain majority, if not all donor funds which can then be utilized for the benefits of the American people, who earned the money in the first place. References Boyne, I. (2007, October 21). Investment, Inequality Growing Globally. Global Policy Forum. Retrieved marching music 27, 2009. http//www. globalpolicy. org/socecon/inequal/income/2007/1021invest. htm Davies, J. B. , Sandstrom, S. , Shor rocks, A & Wolff,E. N. (2006, December 5). The world distribution of household wealth.World Institute for Development Economics Research of the United Nations University (UN-WIDER). Retrieved butt 27, 2009. http//www. globalpolicy. org/socecon/inequal/income/2006/1206unufull. pdf Reducing international inequality UN report. (2006, July). Global Policy Forum. Retrieved March 27, 2009. http//www. globalpolicy. org/socecon/inequal/income/2006/0715southbulletin. htm What is globalization? Carnegie Endowment for International Peace. Retrieved March 27, 2009. http//www. globalization101. org/What_is_Globalization. html? PHPSESSID=359a52eea34f319e3d9e49a50fe9ae0e