These technologies are helping to overcome the barriers of physical distance. According to its proponents, globalization can be a whirlwind of trade and investment that builds economies and spurs development in even the world's poorest countries. For example, during the 1990's alone, foreign investors have poured one trillion dollars into developing economies. This phenomenal increase in international investment has made the building of roads, airports, and factories possible in poorer nations. Globalization has indeed been a force that has raised living standards for some across the world.
Globalization is perceived as bringing unprecedented opportunities to billions of people.
The staggering expansion of world trade has induced a wave of productivity and efficiency and has created new jobs. Its critics, however, counter that globalization can also bring down economies overnight. A few clicks of a computer mouse can devalue a national currency very quickly, washing away the life savings of millions of breadwinners. Ominous words from the mouth of an influential Wall Street analyst can instantly cause a herd of panicked investors to sell their stocks in Asia, creating a huge capital vacuum that could eventually drive millions into poverty. Many point out that globalization has made life more difficult for large segments of human society and that it threatens to leave part of the world behind.