Thursday, July 1, 2010

A Global Economy without a Global Government

A Global Economy without a Global Government
Hwa A. Lim

Three globalization factors are hastening in the globalization of trade. These factors are
1. Advances in computer and communications technology permit an increase flow of idea and
information across border,
2. The progressive reduction of barriers to investment and trade by most governments, and
3. The trend toward the unification and socialization of the global community because of
preferential trading arrangements.
The first factor leads to a reduction of geopolitical barriers. The second factor leads to mobility
of workforce among trading nations, and the third factor encourages transfer of technology. The
globalization of trade has led to a global economy. However, there is as yet not a global
government to manage the new global economy. Despite this, entrepreneurs can still benefit from breakthrough-, social-, and developmental-disequilibrium to make a fortune.

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