One World

One World.
National economies are becoming more integrated, but are they really as integrated as said? We are also not sure if globalisation is good or bad yet, on the positive side people say that it has the potential of increasing living standards and that it can occur everywhere. Some worry though, that it might destroy jobs and decrease wages in rich economic countries due to competition with low wage developing countries, and it might cause economic disaster. 50 years before the First World War there was a period of globalisation, which ended by the First World War. It wasn’t until after the Second World War that is was revived again. The two elements that triggered this were technology and freedom (liberty).Globalization/integration is now clearly a big part of our society, but some say it is exaggerated. A good example of this is that all markets are more integrated within a nation then across its borders and the controlling of businesses and property across the national border still isn’t so big either (only makes up 6% of the total domestic investment). Even though at some point it is exaggerated, the world is indeed becoming more integrated and with new technology being created, it will probably increase. Will there be another backlash? Probably not, because this time the globalisation is set on better foundations and technology has become integrated into our lives, but who knows!