... people out of work in advanced countries, globalization has been a force of prosperity in much of the world. Others including not only trade unions, but also social and political scientists, draw a somewhat bleaker picture of the current economic process. The global economy is a great leveller - but us levels downward. It undermines every nation's ability to maintain social cohesion. However, common sense and comparative observation suggest that some stand to win and others stand to loose from the ongoing process. The International Monetary Fund describes globalization as "the growing economic interdependence of countries worldwide through the increasing volume and variety of cross-border transactions in goods and services and of international capital flows, and also through the more rapid and widespread diffusion of technology." Globalization rests upon improved technologies that reduce transport and communication cost, as well as organization innovations, both of which expand the range of tradable ...

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