Globalisation is a funny thing. For something that is so widely discussed in public life, it often evades a simple definition, with a wide range of socio-cultural phenomena being associated with it. But for the sake of this article let us keep the term within the realms of its economic definition, where it is thought to be referring to the rising share of economic activity between people of different countries.
Globalisation encourages investments from developed and rich countries to developing and poorer countries with viable markets. This movement of capital usually creates more employment. In such a scenario, prices usually drop benefiting the consumer. This is the reason why you and I can buy a bottle of Heinz tomato ketchup for Rs. 39 while other brands of the same size are over five to ten rupees more expensive.
Often people are stopped dead in their tracks when statistics (and clever admen) impress on you that billions and billions of dollars are flowing from the developing countries to the developed, as debt repayment. You are outraged. But here is something to ponder on.