country or a company leads to a low standard of living and higher levels of poverty. Low productivity within a nation or a company also causes it to be less competitive in the global marketplace. If a - 9company or a nation cannot afford to constantly update their goods and technologies, then they will not be able to compete globally. Foreign competitors set the standard for quality and production schedules of goods. Again, if a company is unable to update its factories, it will not be competitive and have more poverty.The democratization of finance has helped globalization flourish. The wealthy countries, however, are reaping the majority of the benefits. While there is more money available for companies to get started, the majority of the profits of the new companies are being invested in wealthy countries. Investments in the United States have gone from one hundred million to nearly three trillion dollars. While the economy of the United States has developed into one of the strongest, most stable in the world, many third world countries were forced deeper into poverty as a result.A contributing factor to the success of globalization has been the creation of alliances and economic integration. The countries that benefit the most from these alliances, however, are traditionally wealthier countries. Free trade, customs unions, common markets, and economic unions are essential to the spread of - 10globalization; however, they impede the growth of third world countries not included in the group. Globalization, while essential to the success of the global marketplace, has a darker, less visible side. It benefits some third world countries, most wealthy countries, as well as large, well-known multinational companies. It, however, causes the economies of many countries and smaller companies to collapse. In an effort to promote competition worldwide, globalization has actually rendered it impossible for some companies that we...
