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Winners and Losers of Globalization
Winners and losers of globalization
Introduction

Why is globalization such a controversial process? As countries have opened their borders to trade and investment, they have benefited from unprecedented levels of wealth. Virtually all economists agree that trade liberalization is a nearly certain way to increase national income. Technological advances have spread around the world. Access to the internet in even the world's poorest countries has allowed previously unimaginable communication links between people and organizations as well as connections to knowledge and resources. Millions of jobs have been created for people who once depended on subsistence-level incomes. Standards of living are up all over the globe. The number of people living in extreme poverty (defined by the World Bank as less than $1.25 ...

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