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Globalization
GLOBALIZATION
Being a core factor for economic improvement in the 21st century, globalization cannot be and should not be stopped. In particular, globalization opens doors for countries in world trade, communication technology and tourism.
For the past fifty years, international trade and investment has been the main driving force behind world economic growth, with an ever increase amount of goods being traded since 1950s.
Research has shown that countries that are proactive in world trade tend to fair better than those that are not. As a matter of fact, China¡¯s growth in income from $1460 a head in 1980 to $4120 by 1999 is mainly due to willingness to open to world trade. Another example will be Australia. Open trade has helped its exports to grow by three and a half times over the past twenty years.
Approximate Word count = 549
Approximate Pages = 2 (250 words per page double spaced)
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