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Richer's Views On Economic Globalization

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The source is a passage containing of extended metaphors to express the author’s views on economic globalization, more specifically, how to improve. First the author stated the expectation of economic globalization by describing it as a tide that raises the boats. The boats being businesses and economy as a whole, brought higher, or closer to prosperity by the rising tide, in this case economic globalization. However the author quickly contradicts the expectation by stating that economic globalization is actually eliminating weaker businesses and economies from the market, illustrated by a riptide wrecking weaker boats. This time the author used a riptide rather than a rising tide, demonstrating a pessimistic and negative view on the effects of economic globalization. Following the metaphors the author presents its views in a clearer manner, …show more content…

The current economic globalization process is not pulling global economy into a state of prosperity. In order to achieve economic prosperity of the world changes must be implemented, the economic system right now is not working. Following the current system, wealth and trade in the world is not equally distributed, consumer countries are benefiting more than ever, leaving producer countries in trouble and poverty. Some continents have more trading opportunities which results in more wealths overall. Also not to mention global economic systems like the World Trade Organization, control and adjust global trade. However the system was not made for equality. Richer countries are able to strong hand policies, favouring them in global trade and exploiting poorer countries. Systems like such were created to assist the world’s economy but is now causing inequality between nations. Some may argue that the world economy has grown significantly since pre-globalization. However to reach full potential of economic globalization, free trade alongside fair trade, changes are

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