Christian Aid believes the current globalisation model will lead to an increase in poverty and inequality. The assets of the world's three richest billionaires account for more than the combined GNP of all least developed countries and their 600 million people. From 1990 to 1996 only 33 countries managed to sustain three per cent annual growth, while in 59 people s incomes fell.
Globalisation is no accident.
It is shaped by global institutions like the World Trade Organisation, the World Bank and the IMF, as well as governments and multinational companies. For the past 20 years the liberalisation of trade, investment and capital markets has allowed companies to grow and move around the globe. But this has had disastrous consequences for the poor, billions of whom now find themselves at the whim of the global economy. Two examples of how the current model of globalisation is increasing inequality. With increased mobility, companies are paying less and less tax.