The Global Frontier Assessing globalization requires a narrowly focused and a wide-angle lens. Amazingly for a term that is so widely used, there is no precise, generally agreed upon definition of globalization. Turn on the evening news or public affairs programs and you will find extreme opponents insisting that globalization continues to impoverish the poor, enrich the rich and devastate the environment. With equal fervor, supporters contend that the globalization of opportunities is creating a high-speed elevator to universal peace and prosperity. Exports and imports are growing rapidly in nations around the world.
Capital market flows.
Savers, especially in the developed world, increasingly diversify their portfolios to include foreign assets such as foreign bonds, equities and loans. Meanwhile, borrowers increasingly turn to both domestic and foreign sources of funds. Any serious discussion of the effects of globalization must consider these three forms differently. Each raises distinct issues and has distinct consequences. The Kiplinger Washington Editors, Inc.