The debate surrounding globalization has been, in turn, lively, passionate, acrimonious, ill-defined, chaotic, noisy, constructive, untidy, and amorphous. What adjective you choose defines where you stand on the debate. But what is even more striking is that this is a debate that  2  BIS central bankers’ speeches  has frowned on moderation.
For its supporters, globalization is the best way forward for collective global prosperity and welfare. For its critics, on the other hand, globalization is an unmitigated evil. They evoke powerful images, say of sweat shops in developing countries, degradation of the Amazon rain forest, erosion of peasant farming in poor economies and acid rain around the world’s industrial towns to buttress their argument.