Globalization

Globalization The Cold War engulfed the entire world for nearly half a century. Since the chaotic system that set the communist Soviet Union against the democratic United States, a new world order has emerged. This system, called globalization, has revolutionized the way society thinks, moves, communicates, and functions. As defined in Lexus and the Olive Tree by international business connoisseur Thomas Friedman, globalization is, “the inexorable integration of markets, nation-states, and technologies to a degree never witnessed before…the spread of free-market capitalism to virtually every country in the world”(9). This system of globalization is beneficial to the high-speed world of today. Globalization improves the quality of life for citizens living in poverty-stricken regions of the world. When large, multinational corporations such as Dell Computers, British Airways, and America Online are in search of quality labor at a low cost, workers can be found in developing third world countries. The wages paid to overseas employees encompass a greater value than what appears on a paycheck: “The AOL subsidiary in the Philippines paid its workers in 1999 about $5.50 a day, the [Far Eastern Economic Review] reported, which is 35 percent more than the legal minimum wage world, globalization, war, information, people, cold, system, nations, internet, international, country, countries, become, trade, technology, stop, one, now, new, governments, free, economy, democratization, democracy, citizens, china, capitalism, ability, worldwide, workers, web, wage, union, two, trades