Wednesday, December 20, 2006

Expanding global economy offers opportunities for growth, wealth and development shock

I'm not normally one of the bloggers who simply shove other people's media pieces or reports at you, preferring to rely on original content or comment (hence the miserly level of posting).. but!

Dunno if you saw these articles in the FT today. They flip a few of the anti-globalisation and protectionist scaremongers' ideas on the head.

"western Europe, North America and Japan will this year still account for about three-quarters of world manufacturing output"

Based on a World Bank report “Global income has doubled since 1980, 450m have been lifted out of extreme poverty since 1990 and life expectancy in developing countries is now 65 on average.”

Well what a shock, eh - so globalisation, expanding global output and demand offers opportunities for western enterprises, generates wealth for developing countries and their residents. Well I never.


Anonymous Anonymous said...

It is true globalisation can increase wealth of developing nations, but that is not to say that it will solve inequality and poverty. There is after all a long way to go. Globalisation is neither really a "bad thing" or "good thing" It is just an inevitable process of increased communication in the world. It depends on how globalisation is managed.

5:55 AM  

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