Introduction

Globalisation affects economic, cultural, environmental, social and political aspects of life. In economic terms, the globalisation process has resulted in increased economic growth and prosperity. In recent times, economies that have 'open' borders have benefited from a period of sustained economic growth brought about by increased competition driving productivity growth which in turn has improved the standards of living for its residents. The short-term cost of globalisation to developed economies has been the considerable job losses in traditional industries as resources have been shifted to the knowledge based economy. This pace of transition has been accelerated as emerging economies have increased their share of world trade. 
 
The globalisation debate is being led by the South West of England Regional Development Agency in partnership with HSBC and UK Trade and Investment. The intention of the debate is to explore what globalisation means for the South West economy and identify what both business and the public sector need to do to exploit the opportunity that it offers.