Banking & finance

Find the answers to your questions about globalization

  • 4 September 2003

On the eve of crucial trade talks in Cancun, a new website goes online showing how globalization - furthered by more open markets - is spurring economic development and increasing human well-being.

As the introduction points out: “One of the most visible signs of globalization has been the enormous expansion of international trade and investment. Market opening increased the wealth of consumers.”

ICC features the site – – among relevant addresses for surfers interested in international business on its “useful links” tab.

There are also links to such organizations as the Organization for Economic Cooperation and Development (OECD), World Bank, International Monetary Fund and the World Trade Organization.

The site was created by Herbert Oberhänsli, Head of Economic and International Relations at Nestlé, and Oscar Vera, an independent consultant based in Mexico City who has worked for the Mexican Government and leading Mexican and international companies.

It is packed with facts and statistics that make the case for globalization as a positive force, the source of a massive improvement in the quality of life for billions of people all over the world over the past 20 years.

An introduction says “Absolute poverty decreased in a significant way for the first time in history. Life expectancy, health and education also improved for many, and many hundreds of millions lifted out of poverty were able to move further up to some modest prosperity.”

Case studies on the site zeros in on the human element – on local success stories and individuals: how prosperity is gradually reaching a favela in Brazil, how a Mexican small farmer has improved milk production, how a Mexican kitchen help rose to become a chef de cuisine.