San Juan Subway Map on Some are willing to abandon their disposable fixed capital, even after bargaining to gain concessions, in large part because of the incentives provided by the new host nation in the form of rapid depreciation, lower taxes, low or no environmental regulation, and wages a fraction of the rates at home, in pursuit of much higher profits and lower costs in even lower-wage countries. A truly globalized world, international relations expert Joseph Nye points out, would mean free flows of goods, people, and capital, and similar interest rates. But in modern globalization, close to 70 percent of the GOODS, which are exchanged, are transferred between branches of multinational corporations. Capital flows have increased in speed, frequency and volume ($150 billion per day in 1973; $1.5 trillion per day in 1995), and massive transfers happen instantaneously, sometimes with disastrous results, as with the 1997 ASIAN FINANCIAL CRISIS that affected the whole international community. Borders are still relatively impervious for people, who have little legal opportunity to move to high-wage nations, but who often feel blessed with good fortune of having any job and receiving a few dollars a day working in sweatshop conditions in what used to be called duty free or off shore zones. Globalization certainly has not meant the creation of a universal community. San Juan Subway Map 2016.
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