Globalization and the developing world: an essay on the international dimensions of development in the post-cold war era.

Global economic integration has meant that the policies of industrialized countries have contributed an imbalance in economic gain for developing countries. Development means to expand the capabilities of people increase their ability lead long and healthy lives . . . give them an opportunity for dignity and self-respect. The means achieve these development objectives are varied. It is generally agreed upon that increased gross national product does not assure the well being of the population (human development). There is a high concentration in ownership of productive assets inequality in distribution of income unequal access technology credit and productive inputs and opportunities for employment and uneven coverage of social services such as education or primary health care. The inequality of income has increased worldwide and within countries. New measures are needed estimate economic growth in developing countries. Integration of developing countries into the world economy is discussed with a focus on the following chapter topics: international trade international flows of capital and labor international transmission of inequality national policies ensure human development goals globalization in the 1990s and the future the formation of regional economic blocs global economic governance and international priorities for development. Over the decade there has been a decline in the terms of trade in developing countries and a reduced capacity import. The reasons were slow growth in OECD countries and non-tariff protection against products from developing countries. International efforts should be directed industrialized countries stimulate growth reduce protection against exports from developing countries and ensure that regional trading blocs strictly adhere the spirit of GATT rules and avoid measures that divert trade from developing countries. The World Bank estimates that every percentage increase in the rate of growth in OECD countries should translates a .7% increase in the growth rate of developing countries. This growth rate imbalance can be corrected with free open trade measures and adequate safeguards. Developing countries need continue reform their foreign trade policies reduce discrimination against other developing countries and increase diversification of exports.