Globalisation doesn't automatically make countries better off

Only a small number of countries benefited from the first wave of globalisation around 150 years ago, while the majority of nations ended up worse-off, a new study by the University of Warwick has revealed.

World needs joint nuclear safety approach

The global upsurge in the use of nuclear power in countries such as China, Russia and Britain must be accompanied by a greater focus on security and the management of nuclear waste, a report said Thursday.

Why this love triangle works

The carnage on global stockmarkets following the US's debt ceiling fiasco and credit downgrade will only make Australians think about the country's future even less in terms of the US and even more in terms of China.

Small firms driving job creation

Britain's small businesses are likely to create almost two thirds of the country's jobs in an average year, a major new study has revealed.

Brave New World?

(PhysOrg.com) -- British trade unionism was not undermined by Margaret Thatcher, but by the dawn of a new, brutally competitive age that weakened it dramatically in the private sector, a major new analysis claims.

Globalization

Globalization refers to the increasing unification of the world's economic order through reduction of such barriers to international trade as tariffs, export fees, and import quotas. The goal is to increase material wealth, goods, and services through an international division of labor by efficiencies catalyzed by international relations, specialization and competition. It describes the process by which regional economies, societies, and cultures have become integrated through communication, transportation, and trade. The term is most closely associated with the term economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, the spread of technology, and military presence. However, globalization is usually recognized as being driven by a combination of economic, technological, sociocultural, political, and biological factors. The term can also refer to the transnational circulation of ideas, languages, or popular culture through acculturation. An aspect of the world which has gone through the process can be said to be globalized. Against this view, an alternative approach stresses how globalization has actually decreased inter-cultural contacts while increasing the possibility of international and intra-national conflict.

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