Business Services Industry
Mind the globalisation gap.
Australasian Business Intelligence, October, 2006
Byline: Tim Harcourt
Oct 03, 2006 (BRW - ABIX via COMTEX) -- There is no evidence that the globalisation of world trade hurts poor countries. New research from the World Bank shows that developing nations which embrace globalisation and open their economies do much better than developing nations which shut up shop and run closed-economy regimes. In the 1980s and 1990s, poor countries that opened up to globalisation outperformed poor nations that did not embrace globalisation and rich nations as well, in terms of overall GDP growth. Closed economies, such as Albania, Cuba and parts of Africa, must learn this lesson.
Publication Date: 28 September 2006
WORLD BANK
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