Essay
Globalisation Discursive Essay (Grade 12 IEB)
- Course
- History
- Institution
- Elkanah House
Detailed essay, easy to read and understand, created by pupil who got an 'A' in history for final Matric exam 2019.
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By: pam7 • 3 months ago
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Globalisation Discursive Essay“The International Monetary Fund (IMF), World Bank (WB) and World Trade Organization
(WTO) have ensured that the digital divide has benefited the rich at the expense of the
poor.”
Agree or disagree.
Globalization refers to the movement of people, information, investments, goods and
services around the world. Whilst, the International Monetary Fund (IMF), World Bank
(WB) and World Trade Organisation (WTO) have implemented schemes to help aid
developing countries, they have ensured that the digital divide has benefited the rich at
the expense of the poor.
The first introduction of the divided world was named in 1946 by Winston Churchill as
the “iron curtain.”This divide consisted out of conflicting ideologies between democratic
and communist beliefs. However, even after the cold war, this divide still exists today
and is known as the digital divide. As the IT revolution gained momentum, the
inequalities between the ‘haves’ and ‘have nots’ turned its attention to those who have
access to new technology and those who do not. Huge numbers of people, especially in
developing countries, did not have access to computers and the internet, and thus did
not share the benefits of the information age.
The World Bank was set up in 1944 as a product of the Bretton Woods conference. It’s
initial goal was to help with the reconstruction of Europe after World War 2, however it
quickly turned its attention to developing countries. By offering long term loans with low
interest rates, the World Bank posed itself as a platform that would aid in the
development of infrastructure in impoverished countries. However, due to the lack of
transparency on the interest from the cost of lending possessed by the World Bank,
more often than not, developing countries would find themselves in a state of crippling
debt, whilst wealthier countries would be earning large sums of remuneration from this
debt.
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