WK 5 Post 1.docx - According to the results of the...

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According to the results of the BBC/PIPA world survey it is recorded that the world has been increasingly swept away by a rising tide of economic globalization that is radically transforming it. Even in a finance minister meeting report of G-7 states, we can assert with some degree of confidence that economic globalization has made tremendous strides since the advent of the last quarter of the twentieth century. The evidence of this can be seen in such examples as the huge expansion in world exports, the dominant position of manufactures in trade, the vast FDI flows, the transnationalisation of production and the phenomenal growth in foreign exchange trading.Globalization is no doubt increasing at an alarming rate and at a macro level surprisingly globalization is related to rising prosperity, even when there are widening income and wealth gaps between social groups. But there is a fact that the benefits and burdens of economic

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