Globalization and the Shape of Things to Come

Abstract

We are participants in a long march to a global economy. Since the end of the Second World War economic forces have been unleashed which are creating for the first time a worldwide economic system which is regulated largely by market forces. Government-imposed restraints on the free flow of trade, investment and technology have diminished sharply and a liberal international economic order has been created which has profound implications for the shape of things to come. Indeed I shall argue that economic globalization is bound to affect not only the way we earn our living but also our political institutions, the natural environment and the pace of cultural interchange.KeywordsForeign Direct InvestmentWorld Trade OrganizationTrade LiberalizationRich CountrySmall StateThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.