Globalization:

The liberalisation of trade and capital markets has .lead  to a closer integration of the world market and new challenges in economic management. Opinion regarding globalisation is strongly divided.  Many believe that globalisation hurts poorer groups and  increases poverty and worsens income distribution.

But many  think that integration of countries into the world system  is the solution to many of the problems plaguing these countries.

The main objections  to globalisation can be divided into three broad groups. There is the fear  that globalisation will hurt other objectives dear  to the heart of the opponents of globalisation. A major fear that the opponents have is that globalisation is bad  for poverty or  for income  distribution.  It  is  usually expressed as that the poor become poorer after globalisation. In recent years there is also increased concern  that globalisation  is bad  for  the environment or, more recently, for women or labour standards more generally.