Monday, February 23, 2009

Who will benefit maximum out of globalization?

Clearly the developed countries are at an advantage from globalization. They have been able to hold to the advantageous positions. However, in the last 10 years countries from Asia seem to be catching up at a very fast rate with regard to economic growth. Some of these countries are well on their way to dislodge from higher positions the not well performing European countries. China, India, Korea have done extremely well to bridge some the gaps of product and service quality.
In all these, the leading beneficiaries of globalization have to recognize that in the era of globalization, we will either succeed together in building a more prosperous world, or we will suffer together as we each lose ground.