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PacNet #33 – Globalization – Economic Development’s Best Friend

While I can take no issue with the various faces of globalization in today’s society, as described by Dr. Charles E. Morrison in PacNet #32, I am disappointed that he did not place more emphasis on globalization’s most productive role — accelerating economic development. As recently said by the World Trade Organization Director General Mike Moore: ‘Trade alone may not be enough to eradicate poverty, but it is essential if poor people are to have any hope of a brighter future.” The same can be said for trade’s partner in globalization – foreign direct investment (FDI).