“Globalization”, “Globalizierung”, “globalizace”, “mondalization” – I hear or read this word in various languages whenever I watch news or read a newspaper online.
Globalization has had a major impact on our world: it made some people much richer, mostly those who were already very rich, and some people poorer, mostly those who were not very rich to begin with. I am told that it also lifted some people out of grinding poverty, mostly people in what is still called the third world. I have no way to verify the statement in the previous sentence, but it probably is true to some extent.
Globalization not only made billionaires out of people who only had a few hundred million before it started reshaping the world in the mid 1990s. This after Bill Clinton, who felt our pain so convincingly in 1992, signed NAFTA (North American Free Trade Association) a few years later.
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