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The Blessings and Challenges of Globalization.
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| Submitted: Mon Nov 17 2003
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1. The Blessings and Challenges of Globalization. by Daniel T. Griswold The evidence of globalization can be seen everywhere: in the home, in the workplace, in the discount stores, in the newspapers and business journals, in the flow of monthly government statistics, and in academic literature. The backlash was on display in Seattle in November 1999, when thousands of protesters took to the streets to demonstrate against the ministerial meeting of the World Trade Organization (WTO). A short definition of globalization is "the growing liberalization of international trade and investment, and the resulting increase in the integration of national economies." Economist David Henderson of the Melbourne Business School expands the definition into five related but distinct parts: * the increasing tendency for firms to think, plan, operate, and invest for the future with reference to markets and opportunities across the world as a whole; * the growing ease and cheapness of...
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