7. Globalization and development

The relationship between globalization and development is contested. For some, globalization is a powerful force for poverty reduction and has led to leaps in life expectancy and other key dimensions of development. For others, globalization has negative implications and is seen as a source of growing inequality, poverty, unemployment, and environmental destruction. ‘Globalization and development’ considers the important aspects of globalization that have an impact on development: global financial flows and different types of financial investment; the promotion of equitable trade for developing countries; technological progress; international regulation and cooperation to prevent transfer pricing and tax avoidance; and the impact of international migration and the rise of refugees due to civil war and genocide.