ESSAY 14



The chart informs in general about the average GDP growth per decade for the three different types of countries for a total period of 40 years.

The wealthy countries recorded a very impressive GDP growth in the beginning of this period of four decades where the figure was in the range of 4.7 percent. In the same period, however, the figure for the countries adhering to globalization was only 1.4 percent, while the countries that did not adopt the globalization existed at the level of 2.4 percent.

In the 1970s when the countries, which accepted globalization and rejected globalization, both increased their figures quite significantly, the wealthy countries had quite the opposite experience as it underwent a drastic decline to a level of 3 percent. The GDP growth rates of the wealthy countries continued to deteriorate until it reached 2 percent at the end of the period.

It can also be seen that countries that did not accept globalization were devastated in the period of 1980s and despite a surge in the 1990s the figure remained the lowest compared to that of the other two categories.

Countries practicing globalization, on the contrary, maintained the rate of increase in GDP growth in the two final periods reaching 4.9 percent, where it surpassed the record growth of the wealthy countries in the beginning of the period.

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