Poverty Eradication

SAFIAH OMAR AIDA YUSOF NORFIZA CHE YAHAYA HIJRAHTULL AQMAL BASET

INTRODUCTION • The purpose of writing the book is to address a different approach to manage globalization. • He addressed a few key areas and recommendations for improvement. • It is a question of whether his views and approaches are realistic.

POVERTY ERADICATION

DEBT DEBT

Development

POVERTY

• Poor/developing countries borrow a lot to finance development • Lenders over-lend without reviewing the borrowers repayment capability. • IMF bail-out seem to support lenders and further depress the borrowers.

RESOURCE CURSE • Resource rich countries are mostly poor – Poor governance – Not well informed – Vulnerability due to the country’s instability

• Role of International Organizations – – – –

Monitor trade agreements (fairer terms) Develop code of conduct. Implementation of rules & policies More transparent and fairer representaion.

EQUAL DISTRIBUTION OF WEALTH OPPORTUNITIES

CAPABILITIES

WEALTH

Stiglitz • Developed countries should share part of their wealth & open trade for poorer countries. • Socialist approach. It is the right for everybody to gain from globalization. Human nature to work to become superior over others. After all, globalization is about the survival of the fittest. Instead of giving monetary support, promote the sharing of knowledge and education (the means to get wealth)

FAIR TRADE

FAIR TRADE Stiglitz suggest: Better market access for poor countries Making room for industrial policy Cutting farm subsidies in rich countries Getting risk of escalating tariff on developing country exports with higher value-added content Freeing up international migration Attracting rich countries’ non-tariff barriers to trade

Issues:

Does fair trade affect the SMEs? How to ensure fair trade?

What is wrong with WTO and IMF?

NON-MATERIAL ASPECTS

NON-MATERIAL ASPECTS

Global Warming

• Kyoto Protocol • Carbon Taxes

Human Rights

• Employment

& Brain

Drain • Patent vs Humanity

CSR vs BSR

• Socialist Approach • Capitalist Approach

CONCLUSION • Integrated Globalization • Idealistic VS Realistic • Good Governance  Credibility & Ability

• IMF and World Bank (Transparency)

• For the Future! • Believe!!