Poverty Consequences of Globalisation in OIC Countries: A Comparative Analysis

Williamson (2002) points out that ‘the world has seen twoglobalisation booms over the past two centuries and one bust. The firstglobal century ended with World War I and the second started at the endof World War II, while the years in between were ones of anti-globalbacklash’. In the first period of globalisation, poverty fell from 84percent in 1820 to 66 percent in 1910. In the second period ofglobalisation poverty fell from 55 percent in 1950 to 24 percent in1992. In the inter-war period, the world population living in povertyremains probably stagnant. The historical negative relationship betweenglobalisation and poverty masks variations within and between countriesin their experiences with globalisation. Many decades of increasingglobalisation have not yet silenced the debate over the benefits ofglobalisation. The fierce street protests surrounding the ministerialmeeting of the WTO and similar protests at the World Bank and the IMFshow that anti-globalisation debate is getting strong.