Dominican Republic The impact of globalization on my

Dominican Republic The impact of globalization on my country By: Laquan Mckever

Background History Christopher Columbus explored and claimed the island on his first voyage in 1492. It was one country at first, but then in 1697, Spain recognized that the French had full control over the western third of the island, which in 1804 became Haiti. The rest of the island was named Santo Domingo didn’t like sharing territory, as a result there were many fights and battles.

Background History (con’t) Haiti ruled and colonized Santo Domingo for a total of 22 years. After many deaths and wasted money, they decided to come up with a way to be peaceful and independent. The rest of the island was then known as Dominican Republic and an border line was acquired, keeping the two countries together but separate.

Population • According to this, the population of D. R. country has had a steady increase. • There seems to be no decrease in the past few decades. I interpret this as the reproduction levels had stayed steady, and there are little to no migrants. This can represent satisfaction within the countries general economy

Trade Percentage on GDP • Trade percentage on GPD tells us how much trade has played a role in the countries economy. • According this data, trade has recently accounted for more that 80% of the GDP. This means that if the had netted $100 dollars in a fiscal year, and we subtracted global trading, they would only have made $20. • In other words, global trading has played a major role in Dominican Republic’s economy, especially compared to similar countries.

Gross Domestic Product • The GDP has had a major upward spike in 2005. This coincides with the data of Trade Percentage being at around 80% during the same few years. It went from 35 B in 2005 to over 60 • It is safe to assume that without global trade, Dominican Republic would be a low-income country.

Unemployment Rate • Once again, we see a significant change (decrease) in 2005. As trade and GDP go up in 2005, the unemployment rate goes down. • Also, it is important to notice that Dominican Republic has been doing generally better than surrounding countries. Although the unemployment rate is higher, so it the population which is important. • This can mean that globalized trade has given citizens an opportunity for a job. There is no coincidence that 2005 has been such a great year for D. R

Gross National Income (per capita) • Look at 2005. There comes with no surprise that there was an upward spike during this time period. • Again, Dominican Republic is higher in this category with similar countries. This can generally mean that this country is senor over countries like it.

Analyzing Data It is evident that there has been a positive spike in Dominican Republic around the year 2005. Taking a look at, “Trade Percentage”, and seeing it increase drastically tells us that not only have they been trading more but they’ve also been successful at it. This is backed up by tons of evidence. The GDP went up during time. The unemployment rate went down during this time. And the gross national income also went up.

Further Analysis Another important statistic to look at it is population. In Cuba, it’s a communistic and hostile environment, as a result, there is starting to be a slight decrease in population. In Dominican Republic though, the economy is drastically improving. This coincides with the statistic of population gradually increasing.

Conclusion On the whole, globalization has been positive for my country because of multiple reasons. The most important and vital reason though is the “Trade Percentage on GDP. ” In 2005, the percentage totaled 80%. This is an astonishing number. On top of that, the GNI per capita increased 12% pulling it out of a negative number. In other words, without globalization, Dominican Republic is in a negative percentile. This is also due to the fact that the unemployment rate decreased during this same general frame of time. Without a doubt, globalization has been a blessing for Dominican Republic

Citations “Public Data” World Bank. World Development Indicators. Web. Dec. 4 2014 “Dominican Republic” The World Factbook 2013 -14. Central Intelligence Agency, 2013. Web. Dec. 4 2014