Globalization and Higher Living Standards Essay

1593 Words Aug 18th, 2007 7 Pages
Globalization is spawning a rise in living standards

The main focus in this article is to illustrate how globalization has improved the lives of many in developing nations. Globalization in of its self is the trading of goods and services of a local economy into an integrated global economy. Technological advances have made this practice more feasible with in the last 50 years. The major milestones were the development of the internet and increased transportation technology. These two advances made the world coined "flat" and set the stage for higher living standards. Countries such as Asia and Latin America have really harnessed these technology advances. They have been exporting their products and services on to the world wide
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For an example it makes sense that Saudi Arabia specializes in oil exporting. They have an abundant supply and a compatible work force. It would not make sense for them to export clothing. China would have the advantage due to its enormous work force. If each country could specialize in what they have an advantage in they would remain a constant force in the global economy. The countries would then have to trade for products and services that they do not have an advantage in producing. The overall global affect of this helps everyone. If each countries specializes the total number of good and services as a whole expands. This provides more goods at cheaper prices which ultimately puts more money back in the consumer's wallet. Or in another way, it raises the standards of living. Globalization is a means to defuse war. The entrepreneurs of India are one of the most important factors in keeping peace with its rival Pakistan. The entrepreneurs diffused an uprising between the two nations when they went to the local government and expressed how they can't just shut down business for war. They expressed that they are part of the global economy now and that by shutting down for an extended period of time will cause irreversible consequences in the there countries economy. Globalization relies on each other to fulfill its duties. Besides religious believes many terrorist join terror organizations due to its wages paid and the lack of employment

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