Advantages of Globalization Essay

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People around the world are more connected to each other than ever before. Information and money flow quicker than ever. Products produced in one part of a country are available to the rest of the world. It is much easier for people to travel, communicate and do business internationally. This whole phenomenon has been called globalization. Spurred on in the past by merchants, explorers, colonialists and internationalists, globalization has in more recent times been increasing rapidly due to improvements in communications, information and transport technology. It has also been encouraged by trade liberalization and financial market deregulation.

Globalization offers a higher standard of living for people in rich countries and is the only
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This research also shows that economic growth, on average, raises incomes for both the rich and the poor. It helps to lift the poorest in society out of absolute poverty and does not automatically increase inequality. More importantly, no country has managed to lift itself out of poverty without integrating into the global economy.

The countries that have experienced high and rising levels of poverty are more often than not, the developing countries that have been marginalised from the process of globalization. Think of North Korea or many countries in Africa. Such countries have insufficient levels of international trade and investment -- not too much. Whether poor countries are poor because they do not trade enough or because poverty stricken countries are prevented from engaging in the global economy, less globalization is generally associated with less development. Ernesto Zedillo, the former president of Mexico seems to have understood the power of globalization when he said, "In every case where a poor nation has significantly overcome its poverty, this has been achieved while engaging in production for export markets and opening itself to the influx of foreign goods, investment and technology -- that is, by participating in globalization."

One of the most common claims made against globalization is that it increases world poverty. Often this claim is supported with a statistic showing the high rates of poverty in a given
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