Globalization of Economy: Strengthening of Inequalities between Countries and the Possibility of Reducing Them

Abstract

Through the globalized economy that essentially leans on the liberalization of commercial exchange between the different countries all over the world, it seems like some countries and even entire continents like Africa are in isolation from the prosperity resulting from free exchanges. This contribution aims at examining the several ways which effectively use the results of trade liberation in amplifying the developing countries’ potential of achieving development. It was concluded that this liberalization includes many developing countries, but unequally leading to deeper poverty and impairment, furthermore, it is important that the developing countries become aware of the depth of liberalization mechanisms and create bases to benefit from it to achieving a structural changes which would eventually enable these countries to overcome poverty and impairment.