Student or Learner
What's the meaning of the sentence below?
Does it mean that:
The first pillar provides incentives for globalization AND
The first pillar provides ideology of globalization?
Thanks in advance.
So, how does the crisis affect the process of globalization? To see this, we ought first to recall the current makeup of globalization – a two-pronged process, resting on two pillars. On the one hand, globalization means an ever-tighter integration of markets for goods, capital and technology – and to a much less extent, labor – undergirded by an ideology best summarized in the Washington Consensus’ 10 precepts among which privatization, deregulation and generally a lesser role of governments were key. The first pillar provides incentives for and ideology of globalization.