In spite of the progress undergone by poor countries, things are still critical in these areas and it is impossible for one to even compare the situation there with the one in developed countries. The advancements experienced by developing territories are impressive, but put side by side with those in the west they are quickly made mediocre. Whereas individuals in developed countries can rapidly adapt new technologies in their everyday lives, those in poor countries are less likely to do so, since "many developing countries lack the technical skills necessary to master new, or even older, technologies" (Picture This).

Globalization practically means that most countries turn from their old systems to a more general one, which is capitalist-based. Even though for some globalization is a new topic, it actually goes back to the expansionist era, when people were determined to interact with new cultures and to increase their sphere of influence. It was during the sixteenth century when the international system brought a great contribution to the process of globalization. People in developed countries observed that was advantageous for them to concentrate on directing wealth at their lands while they were exploiting people from poor countries. These occurrences are mainly responsible for the world today and because they were taken advantage of, people in poor areas were unable to develop properly.

The era of globalization brought...

Reform is urgently needed in order to prevent matters from becoming even worse. With international corporations suffering as a result of the economic difficulties they encounter, they are likely to withdraw their investments from developed countries and move to underprivileged territories. However, as matters become shoddier, these corporations seek opportunities of moving their business into the poorest countries, influencing individuals that previously worked for them to seek employment in the west. Consequent to this, developed countries are presented with waves of immigrants willing to work for low wages, thus destabilizing the system there by influencing companies to employ immigrants rather than citizens, with the latter being reluctant to work for low wages.
Works cited:

1. Masood, Ahmed. "The Next Frontier." Retrieved August 05, 2010, from the International Monetary Fund Web site: http://www.imf.org/external/pubs/ft/fandd/2008/09/ahmed.htm

2. "Picture This." Retrieved August 05, 2010, from the International Monetary Fund Web site: http://www.imf.org/external/pubs/ft/fandd/2008/06/picture.htm

3. "World-System Theory." Retrieved August 05, 2010, from the Globalization Web site: http://www.sociology.emory.edu/globalization/theories01.html