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The Trend Of Democracy, Capitalism, And Globalization

617 words - 2 pages

     Our generation is experiencing an extraordinary historical phenomenon; it is reshaping culture, welfare, and prosperity at a global magnitude. The tyrannizing bounds of social contract, which have restrained us from freely trading and interacting, from acting as human beings in their state of nature, are now being torn off successively, and, most importantly, the change is being spearheaded at the government echelon. One after another, the countries that make up the world's financial system are making the shift to a market-based economy. The fairly revolutionary trend of democracy, capitalism, and globalization, has been gaining momentum and storming the earth continent at a time; it will continue to do so in the foreseeable forecast.
People of all tongues are coming to the realization that prosperity is a mutually dependent element, to reach it, we must plug in to the livewire of global trade and awareness. The barriers to entry are moderately low, the rewards are often abundant, immediately felt, and forerunners are vast. Thailand, China, and Poland are just three countries that have flirted with concepts of privatization and foreign trade; the rewarding effects were proven to be generous and relatively instant, as we shall now demonstrate.
Until about 1985 Thailand's economy was virtually closed to direct foreign investment. The only outside assistance that the country has benefited from was received at the government level. Outside aid flowed primarily from other governments, for private enterprises did not find the needed incentive to invest in Thailand's industries. As the year turned 1985, Thailand lowered its barriers to foreign direct investment; it came pouring in with great enormity, irrigating and stimulating its economy at almost every level. The effects were astounding. By 1990, exports have grown by 15%, foreign trade doubled, and unemployment declined by an astonishing 75%. By 1995 the population's per-capita income had...

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