The KOF Swiss Economic Institute ranks countries on the basis of social globalization and political globalization, in addition to economic globalization. In terms of human development, globalization is much broader and more far-reaching than economics. In this context, the term globalization refers to the increasingly free flow of goods, services, financial capital and labor across national borders. Globalization is often associated with economic development, financial markets and international business. 8) Canada 9) Jordan 10) Estonia (In the prior year, the top 10 included: Australia (8), Austria (9) and Sweden (10).) Kearney/ Foreign Policy, 2007 (most recent version): 1) Singapore 2) Hong Kong 3) Netherlands 4) Switzerland 5) Ireland 6) Denmark 7) U.S. Globalization Index country ranking (A.T.The many, substantial benefits of globalization include higher average incomes, greater innovation, richer cultural exchanges and improved standards of living around the world. The rising tide of globalization plays a growing role in business, culture, the environment, human migration patterns, international development, politics and science and technology. It’s hard to think of any aspect of modern life that globalization does not influence or touch in some way. Advances and cost reductions in communications technology and transportation have made it ever easier to collaborate with associates in other countries and remote locations. Rapid international development drives growth in the increasingly dense web of connections between developed and developing countries around the world. Globalization is one of the defining trends of the 21 st century.
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