ABSTRACT
No recent economic phenomenon has received more attention than globalization in scholarly circles as well as in the policy arena and even among laypeople. And no other phenomenon has so polarized the discussion around two contrasting views which ultimately reflect alternative assessments of the benefits and costs of globalization. The critics have argued that globalization has exploited people in developing countries, caused massive disruptions to their lives and produced few benefits in return. Its supporters point to the significant reductions in poverty achieved by countries which have embraced integration with the world economy, with China and India being the current poster-countries of such success.
