(Image: AP Photo/Ng Han Guan)

A lot like its relative neoliberalism, "globalisation" is the kind of phenomenon that exists as much in the eye of the beholder as it does in reality. It's a grab-bag of related concepts that can be blamed, or given credit, for pretty much anything, depending on the agenda of the person employing the term.

Economic growth, pulling millions out of poverty, wage stagnation, job insecurity, automation, the rise of nationalism and racism, tax evasion -- there's something in globalisation for everyone.

And there's an element of truth in it all. Globalisation is why you can now send your kids to school after spending $60 on some clothes and shoes at Big W rather than a fifth of the family's weekly income on expensive, locally-made uniforms and footwear like families did in the '70s.