Globalization

Markets promote efficiency through competition and the division of labor – the specialization that allows people and economies to focus on what they do best. Globalization offers greater opportunity for people to tap into more and larger markets around the world. It means that they can have access to more capital flows, technology, cheaper imports, […]

Globalization

In some countries, especially in Asia, per capita incomes have been moving quickly toward levels in the industrial countries since 1970. A larger number of developing countries have made only slow progress or have lost ground. In particular, per capita incomes in Africa have declined relative to the industrial countries and in some countries have […]

Globalization

Globalization is a process whereby businesses expand their reach beyond their domestic boundaries and deal in markets around the world, apart from their own local and national markets. When a company takes its business to this extreme they stand to profit from the larger market, and the economy of of their own country profits from […]