NEWSLETTER SIGNUP

By signing up to our newsletter, you agree to our terms.

Addressing Globalization’s Shortfalls

After finally recognizing the shortcomings of globalization, the World Bank, IMF and WTO propose solutions to problems caused by globalization and trade

Transnational organizations like the World Bank, the International Monetary Fund (IMO) and the World Trade Organization (WTO) have been great advocates for globalization and international trade. They have consistently credited these phenomena for helping drive global economic growth. However, in advanced economies like the United States, globalization and trade is now being blamed for loss of manufacturing and other blue collar jobs and has led to unemployment and income inequality.  

Experts argue that discontent with globalization has led to a rise in populism and protectionism across the West, which manifested in the form of Brexit in the United Kingdom and the election of President Donald Trump in the U.S. With the role of trade in the global economy at a critical juncture, a joint report published by the World Bank, IMF and WTO acknowledges the shortcomings of globalization. The report attempts to address these flaws by providing policy recommendations and solutions that help workers and communities that have been negatively impacted by globalization.

The policy recommendation includes solutions like creating safeguards for workers by changing labor market policies, and creating better policies around housing, credit and education. Some of these changes have already been implemented. Evaluation of the impact of these policies has shown mixed results. This report and its policy recommendations are considered to be an important first step undertaken by the main proponents of globalization to address the problems associated with it.

Read the full story here (via Quartz)

Here’s what else we’re reading 

How Two Georgia Tech Students Came Up With The Common App For Internships

Applying to internships can be a daunting and time-consuming process for students. Two Georgia Tech students have come up with an online tool that streamlines the internship application process. They built a platform called InternBlitz — similar to the Common App for college applicants—where students input their standard information only once and then can add internships that they are interested in. The website then scans the internships and shows users unique questions in each application. After completing the specific questions and requirements, users can submit all their applications with a single click. So far this app is only available to Georgia Tech students. It was recently awarded $10,000 at a university-wide competition. (via NPR)

How This Academy Wants To Build Coding Schools Within Refugee Camps

Africa houses more than 26 percent of the world’s refugee population, according to the United Nations Refugee Agency . Many refugees have little or no access to higher education and their future prospects are bleak. An organization called the Refugee Code Academy recognized that the plight many refugees face in the African continent was going unnoticed. They saw an opportunity to not only highlight the struggles of refugees, but found a way to use technology to address their socio-economic and humanitarian issues by building a site to teach coding skills to refugees. (via Blavity)

Header photo via Quartz

The Philadelphia Citizen will only publish thoughtful, civil posts. We want to be a communal space. But that doesn’t mean you have a First Amendment right to be an idiot. Send us an insulting, offensive and/or wildly off-topic comment and not only will we refrain from posting it -- we will laugh at you before we hit delete.

Recent Tweets
@THEPHILACITIZEN

@thephilacitizen @@thephilacitizen
The Citizen
@thephilacitizen
Black Friday. Small Business Saturday. Cyber Monday. GIVING TUESDAY! Your donation of $35 is all it takes to help u… https://t.co/puK8Gy6Iei 
The Citizen
@thephilacitizen
Christopher Jacobs' Philly-based B-Corp, @Communallytech has helped over one-million lower-income people with finan… https://t.co/b3cws8dyNP 
The Citizen
@thephilacitizen
Philadelphia campaigned hard to be the new site for Amazon's HQ2. With the SRC dissolving, should we put that same… https://t.co/u09WdEdwhA 
The Citizen
@thephilacitizen
Syracuse elected their first Independent mayor in over 100 years. Could the same happen here in Philadelphia? Shoul… https://t.co/S2KynosxD8 
The Citizen
@thephilacitizen
Have you been keeping up with the season? @Eagles take on the @dallascowboys and @MalcolmJenkins highlights Philad… https://t.co/skz8mzSyee 
The Citizen
@thephilacitizen
Lorenzo Buffa's @AnalogWatchCo offers wearers a sleek sustainable design and an opportunity to support three differ… https://t.co/NmF6m35rHR 
The Citizen
@thephilacitizen
Voter turnout hovers at around 20%. @onwurd's @ellisonreport sees that as a loss for the city of Philadelphia and f… https://t.co/rseDN6piU0 
The Citizen
@thephilacitizen
"What stood out to me in meeting with those 10 former juvenile lifers was their remorse, relief and hope"… https://t.co/orERxfea5O 
The Citizen
@thephilacitizen
Add a beloved keepsake to a climate change time capsule on Saturday with Pa Gov. @GovernorTomWolf and send a powerf… https://t.co/AL1Mk1IEQh 
The Citizen
@thephilacitizen
50 yrs ago, 3,500 Philadelphia high school students walked out of their schools to protest segregation & inadequate… https://t.co/xFB7WiIam8 
The Citizen
@thephilacitizen
Syracuse just elected their first independent mayor in 100+ years. Will Philadelphia ever get past party-line polit… https://t.co/2XzLXV8VQ0 
The Citizen
@thephilacitizen
Enjoy, "I do what the f*ck I want.", and other classics with our Corruption All Star cards. Print them out and coll… https://t.co/vLz1c5vbkh 
The Citizen
@thephilacitizen
It's week 11 for the @Eagles who take on the @dallascowboys and Pro-Bowl safety @MalcolmJenkins is highlighting the… https://t.co/9Uogrmi3kW 
The Citizen
@thephilacitizen
"Staying silent is no way to make change. Philadelphians need to stand up and speak out if we want to make the city… https://t.co/7cJjZnMxsx 
The Citizen
@thephilacitizen
"Communally helps people get out of crisis mode, into a place where they can start saving and planning, by offering… https://t.co/Jt18UliVcR 

LOAD MORE

Be a Citizen Editor

Suggest a Story