Globalization and the problem of poverty worldwide

Abstract

Despite an international community committed to redouble efforts in the fight against poverty, and although some progress, this phenomenon continues to affect a world population that exceeds one billion people. And this is one of the most frequently asked questions: has Globalization exacerbated poverty? This article focuses on a possible negative effect of Globalization on poverty. As for methodology, the study was based on a systematic literature review and also a qualitative and quantitative analysis of the most recent world data (World Bank). The article explores the different strands and theories created about Globalization, as well as the concept of poverty, data and current context of the problem, highlighting Sub- Saharan Africa. The analysis concludes that global poverty has been declining. However, Africa remains the most affected continent by extreme poverty, and it is also considered worldwide an abysmal economic inequality, with a relative increase of poverty, not absolute. A widening gap between developed and developing countries, rich and poor, that despite not being fully associated with Globalization (as the sole cause), it may have been intensified by some of its aspects, such as the global economic integration.