The Opportunities

Despite the pessimism surrounding globalization and free trade, an abundant amount of people will still believe wholeheartedly in opening up the markets to trade internationally. “These policies of free trade are especially seen as helping developing countries reach their potential. Not only does productivity grow, and a mentality of everyone producing their ‘comparative advantage’ flourish, giving countries an edge in the global market, but it also spurs innovation and ideas when interaction increases.”

In order to facilitate the growing interdependence among nations and to ensure the opportunities related to globalization, a number of groups have formed among both developed and developing nations that have been indispensable to increasing public confidence in globalization. APEC is an example of such a group. With 21 Member Economies it is considered the primary organization for promoting open trade and economic cooperation around the Pacific Rim. Its programs seek to connect its members’ commerce, communities, classrooms, and cultures in a mutually prosperous and productive way. If APEC’s collaborative course between its 21 members is successful in promoting mutual economic growth and social progress, it will provide a vital model for global interdependence.

To learn more about the process of globalization and how groups like APEC are working with it, please visit these two interesting sites exploring both the challenges and opportunities of global integration: The Globalist and Globalisation Guide. See our Great Links page for other great sites.

Source: Business Week - 24 Apr 2000 Issue