Is globalization really good?

I believe that all of you would watch the remaining 12 minutes of the video documentary by Jonah Norburg on 'Globalization is good'.

To me it is an eye-opener from a lot of perspectives:
1. It shows us an interesting case of the positive impact of 'global capitalism'
2. It provides a cross-country comparison wherein the experiment related globalization was done and not done.
3. It provides a three-sided view of a country globalized, country globalizing and country which wants to stay away from it.

However, there remain more than a few questions to be answered:
1. Is it really the case as Jonah argues?
2. Is this really a balanced argument?
3. Isn't the latest recession a phenomenon which was brought on to us by the 'global capitalism' which Jonah describes as globalization?

What is your perspective on this? Debate it out.

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