Term Paper: Expanded Panama Canal

Expanded Panama CanalName:Institutional affiliationExpanded Panama CanalIntroductionPoor countries have traditionally opposed market liberalization with the intention of protecting their companies and jobs. Nevertheless, these countries have faced pressure from developed countries to open up their borders for trade. As the result, there has been an inequality uneven distribution of wealth arising from globalization. According to Ghose (2014), the gap between the rich and the poor countries has widened exponentially in the last two decades. He attributes the unequal growth between the developed and the developed countries as the result of globalization and liberalization of the markets. The cost of transport also contributes to the inequalities. Rich countries can afford to export more products more efficiently, compared to poorer countries; hence their markets become filled with products flooded with cheaper imports. The expansion and the change in passage tariffs of the Canal of Panama will further increase the inequalities between nations. Panama Canal The Canal of Panama is a man-made 50-mile busy waterway that cuts across the Isthmus of Panama, to connect the Atlantic Ocean with the Pacific Ocean. Ships passing through the canal save thousands of kilometers as opposed to