Transnationalisation has brought countries with about 3 billion people from subhuman conditions of life into modern standards of living with adequate food, basic shelter, modern clothing rather than rags, and life spans that are over 60 rather than under 45. In the early 1950s China's life expectancy was 41 years, in 2005 it was 72.7 years. This is the greatest reduction of inequality that has happened in human history. In East Asia, this reduction of inequality has resulted from a wave of economic growth that has swept through countries like Japan, South Korea, Thailand, Malaysia, and much of Indonesia& is rapidly spreading across China, India and Vietnam . In other words, global inequality is declining fast.
A very good morning to all of you.
This, Ladies and gentlemen is the true face of Transnationalisation.
Globalization is a progressive force for creating global prosperity. Through free trade and capital mobility, it is creating a global market civilization in which prosperity; wealth, power and liberal democracy are being diffused around the globe.
Transnationalisation has increased world prosperity and organizational efforts to stabilize the world economy have significantly improved. By historical standards global poverty has fallen more in the last 50 years than in the past 500, and the welfare of people in almost all regions has improved significantly over the past few decades. Transnationalisation is the harbingers of modernisation and development.
Far from making Low economically developed countries more vulnerable, increasing global integration means that there are better organizational structures in place to deal with world political, economic and social problems.
This effort will bring about the end of the Third World.
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