Globalization and its impactGlobalization, by definition, means the tendency of business, technologies or philosophies to spread around the world, or the process that causes this to happen. Globalization depends on three keys to progress: the role of human migration, international trade and rapid capital movements. Globalization has many advantages but also many disadvantages that can have a decisive factor in an economy. Many people think that globalization still favors the rich and is bad for emerging countries in the world that do not have a stable or large economy. According to Bloomberg Business Week, globalization reached its peak in 2007, which ties in with the unfolding global crisis. Some critics and articles have argued that globalization has changed the culture of many American companies going abroad and taking jobs with them. Globalization brings many risks and many successes, and since the world is changing with new innovations, when we have globalization it helps the world. However I agree that globalization, if it can be changed or altered to help both emerging and developed economies, can be great for society. Globalization has three stages of advancement which are again the role of human migration, international trade and rapid capital movements. Migration occurs when people from different countries move to other countries. Some people move because their current living situation may not offer many opportunities and their countries may have some human inequalities that may impede any growth. The role of human migration shows that globalization plays an important role in this phase. Some may say that globalization has an effect on this role of migration due to the natural environment... middle of paper... of overseas countries. Globalization can also be positive. In an article written on the Forbes website the author raised the fact that in emerging countries such as India and China the middle class has grown and around 200 million people in their country have emerged from poverty (Why globalization is Good). In China, middle class incomes are set to triple, to reach $5,000, predicts Dominic Barton, managing partner of McKinsey & Co. in Shanghai (Why Globalization is Good). Another factor that the article talks about is that foreign direct investment, also known as foreign direct investment, has helped China with its economy. About $600 billion has poured into China, including $70 billion in the last year (Why Globalization is Good). Foreign companies build factories and bring them into China, while the Chinese government provides all the natural resources needed for the factories to succeed.