ONE WORLD ONE ECONOMYGlobalization is the buzz word of the 1990s. In the two previous decades, the amount of money & goods moving between countries has been rising steadily. At the same time, trade barriers across the world have been lowered。 This more integrated global economy will ultimately benefit everyone because it will enable countries to specialize in those areas where they perform best Developing countries, with their higher population & lower wages, will concentrate on labor-intensive industries （such as raw materials & mannfacturing）. The richer countries, on the other hand, will diversify into hi-tech industry where high productivity & special knowledge are paramount.And the effect of this will be to improve productivity in all countries, leading to higher living standards. The free movement of capital will also help poorer countries develop so they can play a full & active role in the world economy.
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