Lakhasly

C.There is inadequate scholarly understanding about contemporary social conditions beyond the fact that individuals and their families attempt to cope under specific societal contexts and that their lives are influenced by national and transnational policies.Poverty The most contentious aspect of globalization is its association with global poverty rates.

C. Poverty
The most contentious aspect of globalization is its association with global poverty rates.
There is inadequate scholarly understanding about contemporary social conditions
beyond the fact that individuals and their families attempt to cope under specific societal
contexts and that their lives are influenced by national and transnational policies. For
example, Nissanke and Thorbecke (2005) argue that, “despite the utmost importance of
understanding the globalization-poverty nexus, the precise nature of the various
mechanisms, whereby the on-going process of globalization has altered the pattern of
income distribution and the conditions facing the world’s poor is yet to be carefully
analyzed” (p. 3). Ravallion (2003) also calls attention to the fact that the ‘starting point’
for many countries differs with respect to their initial level of economic development,
making it difficult to generalize across countries and regions. While there is much debate
about the metrics for computing poverty statistics, the World Bank reports that the
number of individuals living on less than $1.25 per day is projected to drop to 883
million by 2015. This indicates that the extreme poverty rate of 1990, 42 percent of the
global population, will be reduced by almost half, meeting the MDG target. However,
the decline in poverty varies by region with China and East Asia at the forefront of
progress, and the populations living in sub-Saharan Africa accounting for approximately
70% of the poorest of the poor. Due to population growth in sub-Saharan Africa, the
world’s poorest individuals increased from 11 percent to 27 percent in the period between
1981 and 2005. Meanwhile the percentage of the global population living under $2 per
day in Latin America, the Caribbean, Eastern Europe and Central Asia, dropped from
70% in 1981 to 47% in 2005. Due to global population growth, the actual number of
individuals living under $2 per day remains at approximately 2.5 billion (World Bank,
2011).