Re: Definition of GlobalizationJan 12th, 2009
Eaglesmack, Toro, and Cannuck, please leave this thread if your posts continue to be puerile. Don't waste our time, this is a serious policy discussion.
Please check to see if one of these is lodged in your derriere.
Upon discovery, remove carefully.
Said1, you said glob. began in 1844 with the telegraph, yet the word glob. only entered English in the late 20th century. It seems like a kind of historic inevitability is at work here. This doesn't seem very democratic.
And countries that have embraced globalization have become richer than countries that have not.
Per capita GDP growth in the post-1980 globalizers accelerated from 1.4 percent a year in the 1960s and 2.9 percent a year in the 1970s to 3.5 percent in the 1980s and 5.0 percent in the 1990s (Chart 1). This acceleration in growth is even more remarkable given that the rich countries saw steady declines in growth from a high of 4.7 percent in the 1960s to 2.2 percent in the 1990s. Also, the nonglobalizing developing countries did much worse than the globalizers, with the former's annual growth rates falling from highs of 3.3 percent during the 1970s to only 1.4 percent during the 1990s. This rapid growth among the globalizers is not simply due to the strong performances of China and India in the 1980s and 1990s—18 out of the 24 globalizers experienced increases in growth, many of them quite substantial.