Failures of globalization Essay

globalisation has assisted Belize in increasing its literacy rate from fifty percent in the early eighties to eighty percent in the front part of the twenty first century. The life expectancy of the country has subjoind to around seventy two. This was merely forty percent an estimated four decades ago. The average worker is in addition benefiting with go against wages. Better standard of living, higher wages, advances in science and technology and increase in res publica shake up been the successes of the globalization experiment in Belize.Globalization has also assisted in the increase of management and professional speciality jobs. Between 1983 and 2000 the total number of such positions has change magnitude to a helping of forty percent in Belize (Barnett 65, 2000). Many American and European firms make up set up operations in Belize which has led to the introduction of go technology and business practices. This has also added the benefit of spillover effects into the rest of the saving as demonstrated by the robust and competitive private heavens of Belize.Globalization has increase the number of jobs in Belize. It also has increased the might of producing goods and providing services at lower costs and higher profits. The incentive to say has also increased which has benefited the business sector of Belize. The standard of living has increased with technology making efficient transportation possible (Barnett 65, 2000). The division of labor movement has enabled Belize to maximize the value of its output patch resources open not been faineant in goods production that could be imported more cheaply.Globalization has a considerable impact in hearty policy by the debt crisis and trance of international donors. This has greatly accelerated the integration of Belize with the international market. Opening the providence has also created greater vulnerability to external factors. This has resulted in loss of income and jobs. This leads to d emands for systems of social protection, income sustain, and free or subsidized health care. Currently the government provides income support for old age. One major impact of globalization has the assumption that democracy will be sustained in Belize.The tradition of democracy is prodigious as it has led to better health and education services. GDP per capita has also increased which indicates that Belize has invested substantial amounts of money in health and education (Bary 125, 2005). up to now the size of the external debt renders the health and education spending to contribute to budget deficits because of extensive borrowing from foreign donors. A number of macroeconomic trends seem to indicate the governments success in reducing inflation, modifying the twist of employment, and opening the economy for foreign investors.Local production systems are competing with distributively other in Belize which allows them to see their position within a wider incorporate economy. A nother damaging impact is that countries want Belize do not have any choice about the restrictions and conditions which are associated with the policies of international organizations like institution Bank and IMF. Transnational corporate also have been able to postulate advantage and demand favorable economic policies to invest in the country. This has alienated some of the domestic interest groups like business and labor (Bary 125, 2005).By opening up with the international economy, Belize has also suffered from a decrease in the amount of power it has over its economic policy. Pressure from international organizations like the World Bank and IMF has pushed the country to remove barriers and allow foreign sharpen investment to increase trade. Further coercive policies and regulations have created income equalities in the country. disrespect the substantial increase in trade and foreign investment, the level of poorness remains high in the country.Liberal pecuniary and tra de policies have caused significant inequality and stability in terms of employment and income while reducing the ability of the Belizean government to control its policies. Diminished controls over financial policies and exchange rates have created income inequalities (Bolland 46, 2006). Certain economic policies have bred increased poverty rates. The results of foreign direct investment on employment and maturation have also been mixed. The foreign investment has been saturated in sure areas. Some sectors of the economy have minimal investment.The economy of Belize has become pendant on the international market by the growing volume of get through border finance, investment, goods, and services. The majority of Belizean residents live in the rural areas in melody to the elite of the country. The differences between social classes have increased after the sexual climax of globalization in Belize. Capital account liberalization has created a negative impact on the local banks of Belize as they are vulnerable to financial crisis and external shocks (Bolland 46, 2006). The decrease in tariffs has also led to decline in production of certain agricultural products.