Is Globalization a Necessary Evil? Side Effects of the Globalization

Globalization has stimulated much controversy in recent years. Massive demonstrations are held to coincide with meetings of the World Trade Organization (WTO), the International Monetary Fund (IMF), the World Bank and other gatherings of government and business leaders dealing with the process of developing international trade and investment. The two sides see the globalization in a very different light. The critics of globalization believe that free international trade in goods and financial assets does more harm than good. They view it as a vehicle for enriching corporate elites, to the detriment of poor people and the environment. On the other hand, the supporters of free international trade think that globalization holds the key for increasing the wealth of world's people.