Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalisation over the past hundred years has undoubtedly made the world more interconnected including closer societies, politics, economies, cultures and the environment. Globalisation has increased the production of goods and services. There are those who argue that globalisation creates "winners" and "losers," as some countries prosper, mainly European countries and America, whilst other countries fail to do well. For example, USA and Europe fund their own agricultural industries heavily so less economically developed countries get 'priced out' of certain markets, even though they should theoretically have an economic advantage, as their wages are lower.
The globalisation of economies has resulted in many winners from the developed nations while also improving improved the standard of living in many developing nations. As well as this numerous winners include most western nations, some third world labourers and international institutions. The globalisation of nation’s economies has definitely improved the lives of millions across the planet, in both developed and developing countries. By far the major winner from this process has been the citizens and corporations of developed countries. This is due to many factors that have come to fruition in the later half of the twentieth century. Specifically, the roles of TNC’s, global financial institutions and consumerism all have ties to economic globalisation. Despite the criticisms that surround transnational corporations, they have been directly investing in developing countries and with their expansion into these markets, have actually raised the standard of living in many third world countries. An example of a transnational corporation creating winners with the globalisation process is