Globalization in Argentina Essay - 1323 Words

Globalization in Argentina has affected the country in numerous ways. There are many positives and negatives. Until 1999 globalization seemed to be the reason the country was so prosperous. Pope John Paul II stated, â€Å"From the ethical point of view, can be positive or negative. In fact, there is an economic globalization which brings some positive consequences, as the phenomenon of efficiency and increased production and, with the development of relations between countries in economic, can strengthen the process of unity among peoples and make a better service to the human family. However, if globalization is ruled merely by the laws of the market applied to suit the powerful, leads to negative consequences. Such, for example, the†¦show more content†¦The reforms caused a period of success followed by worse conditions. These policies made the rich get richer and the poor get poorer. Towards the end of the 1990s the country experienced rising unemployment and decreasing wages. The privatization of industries in addition to the international debt and government corruption led to many citizens distrusting the government and failure to pay taxes thus keeping the problems still at large. Unfortunately, the fragile Argentine economic infrastructure, while seemingly strong, was not able to withstand the downturn in the world economy after the severe correction of the both the Dow Jones Industrial Average and NASDAQ stock markets in the United States in March 2000 and the terror attacks of September 11, 2001. The widespread economic failure caused the Argentine peso to become devalued and this caused extreme inflation in prices. In June of 2002 the peso was valued at just $0.26 of a U.S. dollar. The unemployment rates skyrocketed as well hitting over 25% in most parts of the country and the poverty rate increased from 30% in 1999 to over 50% in 2002. The benefits of globalization in Argentina were short-lived but still vital in the countries development. The benefits of globalization in Argentina at the time were economic growth, prosperity and increased productivity during the 1990s. ArgentinaShow MoreRelatedLatin American Culture Essay examples1050 Words   |  5 PagesLatin American Culture Latin America represents 1/10 of the worlds population, and geographically can be located from the land extensions of Mexico, until the Patagonia at Argentina. Some of the most relevant elements of todays culture in Latin America are; Religion, Values, Attitudes, Social structure, Social stratification, Language and Gift-giving hospitality. The predominant religion throughout history in Latin America has been Catholicism. From big cities to small villages, churches, basilicasRead MoreTo most of us, globalization—as a political, economic, social, and technological force—appears all1700 Words   |  7 PagesTo most of us, globalization—as a political, economic, social, and technological force—appears all but unstoppable. The ever-faster flow of information across the globe has made people aware of the tastes, preferences, and lifestyles of citizens in other countries. Through this information flow, we are all becoming—at varying speeds and at least i n economic terms—global citizens. This convergence is controversial, even offensive, to some who consider globalization a threat to their identity and wayRead MoreGlobalization Is Not a Substitute for Development1122 Words   |  5 PagesCountries, that have achieved higher economic growth throughout the years, have achieved this, not by following the dictates of the Washington Consensus exactly, but rather by applying them in an unorthodox fashion. Nevertheless in recent years globalization has become a replacement for a sound development strategy. In his article Trading in Illusions, Dani Rodrik (2001) argues against the line of thinking promoted by these international organizations and proposes that development programs should beRead MoreEssay on Brazil: Embracing Globalization?1519 Words   |  7 PagesBRAZIL: EMBRACING GLOBALIZATION? Background This case focuses on Brazils development strategy since World War II and on the change of the economic model following the debt crisis of the 1980s. At the time of the case Brazilian officials are deciding whether regional integration or globalization offer the best route to economic prosperity and development. This case illustrates the challenges that developing countries face in defining trade policy. It also introduces the role of regional tradeRead MoreArgentina Essay727 Words   |  3 PagesArgentina is very close to my heart because it is where half of my family was born. That is why I have chose it to research. The IMF(International Monetary Fund) and world bank have invested in Argentina. There has been a lot of ups and downs. More downs than ups. The IMF started supporting Argentina in late 2000 and early 2001. This was while Argentina was having some major problems with their economy and hyperinflation. Also diminishing access to capital markets(2003, July). This left themRead MoreBrazil : Embracing Globalization1343 Words   |  6 PagesBrazil : embracing globalization This case is about Brazils development strategy since World War II and about the change of the economic model following the debt crisis of the 1980s. In 2000, Brazilian officials were pondering whether to go for regional integration (Mercosur) or globalization to ensure the countrys economic prosperity and development. Import-substitution strategy After the Great Depression of the 1930s, Brazil followed an import substitution strategy which consistedRead MoreEssay about Globalization and SC Johnson1550 Words   |  7 Pages Globalization is the shift toward a more integrated and interdependent world economy (Hill, 2005). Globalization has several different areas including the globalization of markets and of production. The Globalization of markets is the blending of different markets from different nations into one large global marketplace. Cross-border trading has made it easier to sell internationally. Companies can sell standardized products efficiently and effectively all over the world thus helping to buildRead MoreThe World s Largest Salt Flats1658 Words   |  7 Pagesdiscovery of an abundant supply of Lithium in the Salar de Uyuni has, once again, reignited Bolivia’s hopes of gaining economic advancement on an international scale. Bolivians, however, must overcome their incredulous outlook toward the concept of globalization in order to achieve success. Their execution strategy must embrace the concept of political-economic, social-environmental, and scientific-technological interdependence among multinational organizations in order to achieve their pursuit for economicRead MoreGlobalization of Wal-Mart1177 Words   |  5 PagesDerek Moore 9/13/12 GEB3356, Omanwa Minicase: â€Å"The globalization of Walmart† As the world’s largest retail store in the world, Walmart wants to be in every market that they can be prosperous in. They know they rule the United States market, so why not try to expand overseas and dominate those markets as well. Now that they have reached limits on expansion here in the U.S., the next step was to test the water in other nations. As they began to go international, there were many critics saying theyRead MoreA Short Note On Constructivism And International Institutions920 Words   |  4 PagesConstructivism and International Institutions As technology leapt forward, facilitating and promoting the rapid spread of both goods and ideas throughout the world, the twentieth century saw the beginnings of true globalization and with it the birth of many international institutions. From organizations and documented agreements to global norms for state interaction, these institutions have changed the face of global politics and drawn analysis from all over the theoretical spectrum. Liberal theorists