Thursday, March 23, 2017

When Was Globalization Discovered?

Christopher Columbus discovered America in 1492 with a quest to sail west until he reached Asia (the Indies) where the riches of gold, pearls and spice awaited.  One could say that is when globalization occurred.

Regardless of the exact point in time, Andrew Sheng, for The China Post, says:
Globalization had lifted billions from poverty and the logic of free trade and capital flows was accepted from Beijing to Zanzibar. But in 2007, when the North Atlantic financial crisis revealed the flaws of excessive financialization, doubts about globalization began to creep in.
The reality is that globalization cannot be stopped; rather, it must be managed better as Sheng adds. Read more here.

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