World Without Walls

Paper Summary:

This paper looks at how globalization results in creating a world that has torn down walls, collapsed distances, and spread information. It asks whether the world that has developed since globalization emerged is a better or worse place.

From the Paper:

'Globalization is defined as the emergence of global society in which economic, political, environmental and cultural events that occur in one part of the world affect the people in other. It describes the growing economic, political, technological, and cultural linkages that connect individuals, communities, businesses, and governments around the world and hence, resulting in a world without walls. The most dramatic evidence of globalization is the increase in trade and the movement of stocks, bonds, currencies, and other investments. From 1950 to 2001 the volume of world exports rose by 20 times. By "2001 world trade amounted to a quarter of all the goods and services produced in the world. As for capital, in the early 1970s only $10 billion to $20 billion" (Free Trade, www.encarta.com) in national currencies were exchanged almost daily. Globalization results in creating a world that has torn down walls, collapsed distances and spread information."

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