GLOBALIZATION has brought the economies and societies of the world much closer, effectively turning it into a global village.

Over the last two decades of the twentieth century, the process accelerated significantly, aided by the establishment of the World Trade Organization (WTO), which promoted free trade and largely removed trade barriers between nations. This system enabled countries to access new markets, based on competitiveness, and encouraged governments to open previously restricted sectors to foreign investment, including services, telecommunications, and banking. Globalization also brought technology, innovation, skills, and human resource development, creating a healthy competitive environment.

An important benefit of globalization is the movement of labor. Countries facing shortages of skilled workers can employ talent from nations where........

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