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Ge007 Midterm Chapter 2.1
Ge007 Midterm Chapter 2.1
Ge007 Midterm Chapter 2.1
Josille Marquez
UNITED NATIONS’S SUSTAINABLE DEVELOPMENT
GOALS
At its heart are the 17 Sustainable Development Goals (SDGs), which are an
urgent call for action by all countries - developed and developing - in a global
partnership. They recognize that ending poverty and other deprivations must go
hand-in-hand with strategies that improve health and education, reduce
inequality, and spur economic growth – all while tackling climate change and
working to preserve our oceans and forests.
Before the SDGs, UN had the Millennium Development Goals and tried to achieve in
2015. In terms of eradicating poverty, it becomes problematic and difficult to fully
achieve this goal since there are different standards of living around the world
depending on the economic status of each country as a member of UN.
Years after the composition of the MDGs, UN reported that 836 million people are still
living in extreme poverty but it went down from 1.9 billion. It can be noticed that
although it does not totally eradicate poverty, there is a slight success when it comes
to the eradication of extreme poverty in the world.
It actually means that the government would implement or say for example impose
tariffs or quotas to imported products in order to make sure that the domestic
product would be prioritized and patronized first by the citizen rather than
purchasing foreign products that are imported by the country. The goal of this
policy is to protect the domestic producers.
Countries such as China, Japan and the US are examples of this economy accdg to
Ritzer.
World War II heavily influenced the shifting of the dominant
economic policy from protectionism to trade liberalization of free
trade. Free trade agreements and technological advances in
transportation and communication means goods and services move
around the world more easily than ever.
Breene (2016) cited the case of India wherein that country is accounted for 18 percent
of the economy’s output in Agriculture and 4 7 % of its workforce and considered as the
2 nd bigg est producer of vegetables in the world. Despite of those facts, still 194
millions of Indians are considered as undernourished .It means that there is a
challenge in food security because despite of the fact that a specific country is
capable of producing any crop, it doesn’t guarantee that there is a food security within
the country.
Winners are those business owners who will benefit from the high profit and those
consumers who will also benefit by purchasing a product with a low price since it is
produced in a much lower capital.
Losers are those low wage foreign workers since they are being thrown into hazardous
working conditions and being paid in a much lower salary.
Multiplier effect means an increase in one economic activity can lead to an
increase in other economic activities. (Ex. When someone invested in a local
business, it will create more job opportunities as the business owner will have to
hire employees for the management of their business.) It simply suggests that there
is a positive impact coming from economic globalization as it produces more job
opportunities for thepeople.
Microcredit does not totally solve the problem of extreme poverty but supports the
idea that it enables the people to participate in the economy that can make their
lives better. According to Yunus, these poor people must innovate everyday in
order to survive. They have the innovation but they remain poor because ethey
don’t have the means to turn their creativity into sustainable income because they
don’t have the capital.
The division of nations such as the terms “the North and the South”, “developed
and less developed”, the “core and the periphery” suggests that there are
differences between countries and it reflects INEQUALITY in the Contemporary
World.
There are two types of Global Economic Inequality; Wealth Inequality and Income
Inequality.
Wealth refers to the net worth of a country . It takes into account all the assets of the
nation whether is natural (Natural resources that a country has), physical
(businesses within the country) and human (workforce of a specific country.) less
the liabilities. Wealth inequality therefore speaks about the distribution of assets.
There is no monetary measures that sums up the assets.
Income is the new earnings that are constantly being added to the pile of a
country’s wealth. Example is the Gross Domestic Product (GDP). Income
inequality therefore talks about the earning which are being distributed and values
about the flow of goods and services. Unlike in wealth, income has a monetary
measures.
In terms of the 1st world- from being a Western Countries before, it was associated
to developed or rich or industrialized countries.
That is the reason why these terms become outdated and inaccurate.
A simpler classification was created due to this outdated concept of classification.
GLOBAL NORTH- refers to the first world countries before such as US, Canada, Western
Europe, and developed parts of Asia.
GLOBAL SOUTH- includes the Caribbean, Latin America, South America, Africa and other
parts of Asia. These countries were used to be called as Third World Countries before
during the Cold War era.
However, this classification point largely to RACIAL INEQUALITY between the Black and
White since whites are disproportionately in the North while blacks are most primarily in the
South. Racial inequality in a way that blacks are being discriminated as someone belongs to
the undeveloped states because most of them can be found in the South.
The rural-urban differentiation has a significant relationship to globalization. Rural
refers to the characteristics of being a countryside rather than town while urban is
the characteristic of being a town or city.