Wednesday, June 15, 2005

A Little Good News - Global Wage Gap Narrows

It's time to dig up a little good news in the global war against poverty. We're winning.

Sociologist Glenn Firebaugh of Pennsylvania State University and author of The New Geography of Global Income Inequality (Harvard University Press, 2003) states that incomes of individuals in countries such as China, Taiwan, Thailand, Singapore, Hong Kong and other Asian nations are rising more rapidly than incomes in the West.

"On average, incomes worldwide are increasing at a little less than 2% per year, but China's is increasing at about 6%."

This means that the trend of the "rich getting richer and the poor getting poorer" has begun to reverse. The Futurist magazine article that I read did not emphasis the reason, but it seems obvious that global trade is the major factor here.

Outsourcing and global partnerships are making an incredibly positive impact that international aid could never accomplish.

The individuals in the poor nations are saying to us "Do not give us your aid, just trade with us." Now we are and everyone is reaping the benefits.

A stronger China means a stronger world. A stronger Poland means a stronger world. A stronger East means a stronger West.

The key to globalization is to acknowledge it, accept it and embrace it.

Still left out of the benefits of globalization? Sub-Saharan Africa, unfortunately. But I definitely have strong faith that the world will soon understand how to include these strong nations under the umbrella of increased wealth, productivity and peace.

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