blog




  • Essay / Globalization and Panama - 1731

    Since the transfer of the canal to Panama in 1999, Panama has seen a significant influx of global capital and money into the region. However, even though this influx of resources has enriched part of the country, it has allowed Panama to continue its development without developing the base and experience necessary to maintain and operate the infrastructure it has without an influx of external resources. This can be observed in several ways, as evidenced by wealth divisions between classes and regions, lack of technical and practical knowledge and education requiring the importation of workers and technicians from outside the country in order to to accomplish the necessary tasks. within the country, and the lack of social and economic infrastructure necessary to enable the development of a solution to the problems mentioned above. In total, these three points will demonstrate that the influx of capital from outside following the return of the Panama Canal and the connection with globalization, while beneficial in the short term, the types of investments they encourage will leave in the long term Panama. beholden to external interests and prevent it from allowing its entire population to benefit from the fruits of its success. I will first look at the wealth divisions in the country. For starters, the World Bank said that Panama was one of the most unequal countries in the world, according to World Bank estimates, and that thirty-seven percent of its population lived in poverty, with around ten nine percent of the total population. living in extreme poverty. This division is also much more concentrated in the countryside where, in provinces such as Panama and Colon, there are as many as seventy-five...... middle of paper ......nians seeking education elsewhere in other countries. . Third, even if Panama develops its infrastructure due to the nature of its education system, its class division and its level of corruption, it does so in such a way that it will not create a sustainable system for a certain number of reasons. including ecological overtaxation of the systems, lack of qualified personnel to maintain its systems which leads to a dependence on foreign personnel to achieve this objective and lack of diversification of its infrastructure which will leave the economy vulnerable to instability due to possible competition or changes in global markets and focuses. In conclusion, this current direction of development, although profitable in the short term, will result in a loss of opportunities for the Panamanian population and will prevent the enrichment of specific regions..