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Before we begin we must ask ourselves What is globalization Economic globalization is a historical process the result of human innovation and technological progress It refers to the increasing integration of economies around the world particularly through trade and financial flows The term sometimes also refers to the movement of people labor and knowledge technology across international borders At its most basic ideals there is nothing mysterious about globalization The term has come into common usage since the 1980s reflecting technological advances that have made it easier and quicker to complete international transactionsboth trade and financial flows It refers to an extension beyond national borders of the same market forces that have operated for centuries at all levels of human economic activity whether they be village markets urban industries or financial centers Markets promote efficiency through competition and the division of laborthe specialization that allows people and economies to focus on what they do best Global markets offer 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 and larger export markets But markets do not necessarily ensure that the benefits of increased efficiency are shared by all Throughout the 20th century global average per capita income rose strongly but with considerable variation among countries It is clear that the income gap between rich and poor countries has been widening for many decades The most recent World Economic Outlook studies 42 countries representing almost 90 percent of world population for which data is available for the entire 20th century It reaches the conclusion that output per capita has risen appreciably but that the distribution of income among countries has become more unequal than at the beginning of the century Examples of this uneven distribution of money through globalization can be found in the highly controversial mixture of big business-corporations and agriculture to form agribusiness Agribusiness
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