Module 4: "Globalization: The Growing Integration of Societies" by The World Bank

Globalization is an inevitable phenomenon in human history that's been bringing the world closer through the exchange of goods and products, information, knowledge and culture.

But over the last few decades, the pace of this global integration has become much faster and more dramatic because of unprecedented advancements in technology, communications, science, transport and industry.

But over the last few decades, the pace of this global integration has become much faster and more dramatic because of unprecedented advancements in technology, communications, science, transport and industry.

While globalization is a catalyst for and a consequence of human progress, it is also a messy process that requires adjustment and creates significant challenges and problems.

While globalization is a catalyst for and a consequence of human progress, it is also a messy process that requires adjustment and creates significant challenges and problems.

Economic integration occurs when countries lower barriers such as import tariffs and open their economies up to investment and trade with the rest of the world.

Critics argue that the process has exploited people in developing countries, caused massive disruptions and produced few benefits.

But for all countries to be able to reap the benefits of globalization, the international community must continue working to reduce distortions in international trade (cutting agricultural subsidies and trade barriers) that favor developed countries and to create a more fair system.

But for all countries to be able to reap the benefits of globalization, the international community must continue working to reduce distortions in international trade (cutting agricultural subsidies and trade barriers) that favor developed countries and to create a more fair system.

Some experts suggest poor policies and infrastructure, weak institutions and corrupt governance have marginalized some countries.

Some experts suggest poor policies and infrastructure, weak institutions and corrupt governance have marginalized some countries.

Other experts believe that geographical and climatic disadvantage have locked some countries out of global growth.

It includes property rights and rule of law, basic education and health, and reliable infrastructure (such as ports, roads, and customs administration).

International organizations, such as the World Bank, bilateral aid agencies and nongovernmental organizations, work with developing countries to establish this foundation to help them prepare for global integration.