globalization

Yes, as the definition above states, globalization is the exchange of goods, services and ideas across national boundaries. What many people fail to realize is that globalization has been going on for hundreds of years. However, the rate at which globalization has been spreading has increased dramatically within the past two decades due to factors like technological advancements in communications.

Globalization does not make the rich richer and the poor poorer. This is a common myth held by many narrow-minded religious fanatics and ignorant people who don’t know the first thing about business. Anybody who has taken a basic introductory course in economics will realize why globalization works to both the more affluent as well as the poorer nations’ advantage.

There is a growing disparity, however, between nations that are not globalized and those that are becoming more globalized. A study conducted by the World Bank in 2005 proves that nations who have taken part in globalization have experienced a growth in education levels, as well as an increase in GDP and standard of living. On the other hand, their less-globalized counterparts suffered the reverse.

Have you had your glass of Globalization today?

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