"Globalization" remains controversial. It has produced increasing economic interdependence through the growing volume and variety of cross-border flows of finance, investment, goods and services, and the rapid and widespread diffusion of technology.
The scale, benefits and vilification of globalization can all be exaggerated. Since the 1970s, the movement of people is still restricted and strictly regulated; in the aftermath of 9/11, even more so.
The growing economic interdependence is highly asymmetrical: the benefits of linking and the costs of delinking are not equally distributed. Industrialized countries are genuinely and highly interdependent in relations with one another. But developing countries are largely independent in economic relations with one another, and highly dependent on industrialized countries.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.