However, one can also point to a rapid increase in cross-border social, cultural and technological exchange as part of the phenomenon of globalisation.

The sociologist, Anthony Giddens, defines globalisation as a decoupling of space and time, emphasising that with instantaneous communications, knowledge and culture can be shared around the world simultaneously.

A Dutch academic who maintains a good website on globalisation, Ruud Lubbers, defines it as a process in which geographic distance becomes a factor of diminishing importance in the establishment and maintenance of cross border economic, political and socio-cultural relations

Left critics of globalisation define the word quite differently, presenting it as worldwide drive toward a globalised economic system dominated by supranational corporate trade and banking institutions that are not accountable to democratic processes or national governments

Globalisation is an undeniably capitalist process. It has taken off as a concept in the wake of the collapse of the Soviet

Poor countries that have lowered their tariff barriers have gained increases in employment and national income because labour and capital shifts from import-competing industries to expanding, newly competitive export industries. In addition to providing jobs, companies moving to developing countries often export higher wages and working conditions compared with those in domestic companies operating in the country. While wages are often lower in developing countries than those in developed countries they reflect lower levels of education and productivity. The experience in countries like Korea is that as countries develop their wage levels rise and the focus shifts from labour intensive to more capital and knowledge intensive industries.

Goods produced in such countries under these conditions undermine those produced in richer nations. The result has been a call for ‘fair trade’, as opposed to ‘free trade’.

Some topics in this essay:
Trade Organisation, World Bank, United Europe, Europe Asia, Formulations Globalization, El Salvador, Economic Forum, Development Report, Critics West's, Environment Organisation, world trade, developing countries, global economy, poor countries, world bank, international trade, trade organisation, international financial, world trade organisation, world war, global trade, international financial organizations, world bank wto, bottom fifth 1%, multinational corporations international,