Globalization and Bangladesh

According to Oxford Dictionary “Globalization is the fact that different cultures and economic
systems around the world are becoming connected and similar to each other because, of the
influence of large multinational companies and of improved communication”.

According to Wikipedia (an web encyclopedia) Globalization refers to increasing global

connectivity, integration and interdependence in the economic, social, technological, cultural,
political, and ecological spheres.

Shahzaman Mozumdar (IT Professional and Freedom Figher) says, "Globalization

evokes different feelings to different people. Some look at globalization as "the panacea,"-the
elixir that will eradicate all poverty, remove disparity, and enable the global citizens to enjoy a
decent lifestyle-the lure of globalization. Others view globalization as "the evil" that will further
enslave them to the rich”

In the broadest sense, Globalization implies integration of economies and societies across
the globe through flows of technology, trade and capital. Integration of production, accelerated
cross-border investments and more trade are the logical outcomes of this process. It is a
phenomenon of 21st century.

When I think of globalization in the context of Bangladesh, I think of a person like Hosne
Ara Begum, a 40-year-old garments worker at Dekko Apparels Ltd. Hosne Ara, living with her
unemployed husband and two children, was driven out of her village in Comilla because of
poverty and hunger. With her limited education, she hardly had a chance for a decent job.
However, she got a job two years ago at Dekko Apparels and now Hosne Ara can not only
survive physically, but also dream of a future in which her school-going children would have
much better prospects. Hosne Ara is not looking back anymore. She is striding forward to that
future. For a Hosne Ara, the access of Bangladesh’s garments industry to the global market was a
blessing (Frederick T. Temple, World Bank Country Director for Bangladesh).

When I think globalization in Bangladesh, I visualized the young boys who wear baggy
jeans, fitting short shirt, bracelet, and chain; also have weird & colored hairstyle, smoking like
Hollywood superstars, using slang words. Beside the boys, girls dressed themselves as Indian
heroine like Katrina Kaief, Awsawria Rai (Dr. Brian Shoesmith, Director of Media Studies &
Journalism Department in ULAB).

Though it assumed that globalization in Bangladesh started from the period of

Colonization but the actual flow began after the Second World War in 1945. I assume
globalization a new form of colonization, which is not only exploits us but also hegemonies us
for doing what they (1st world) want. Since 1944 from now on, the term that is invented by
United States as a tool of new form of colonization has two way approach in our country. Some
view this term as a form of economical freedom and some the domination of the west in
Bangladesh. But, is it the soft truth? The irony matter is, it associates with global businesses, the
allies, and a newly powerful centralized global trade bureaucracy. The debate goes so far, when
people tell, for globalization; we have an open market economy, free flow of information and a
new form of living condition. It is difficult and sometimes impossible to find out that how the
west is grabbing our economy, politics and culture. Actually, they colonized our mind by various
form of dissemination on the name information and global economy.

Developing countries like Bangladesh with vulnerable geopolitical locations and weak
economies are now depends on globalization to strengthen their economy to fight any upcoming
threats. But the role of globalization played by the western dominated institutions such as, the
World Bank (WB), International Monetary Fund (IMF), Asian Development Bank (ADB) and
the World Trade Organization (WTO). The agenda of the Bangladesh’s economical sector and
upcoming debt formulated by these kinds of organizations, which are running on the process of
economic exploitation of a country. For this, they are willing to give money for construct a road
rather than a factory. Beside this for every debt they are selling there product in our country
without any tax.

However, a closer look at the globalization will show that it has both positive and
negative impacts on the economy of Bangladesh. A thorough understanding of the effect of
globalization is needed to use its advantages to improve her economy. This may also help
Bangladesh maintain a sustained growth in the face of likely economic peril. Though some view
NGO (Non Government Organization) as a tool of economic exploitation but it brings changes
on the living condition and status of the poor and rural people. Excludes are now becoming
Includes. The garment sector opens the door of sufficiency to the people who previously live in a
hurdle living. The most beneficiaries are the women who were deprived from the society but
now they have power to earn. This economic revaluation is not only creates a skilled sector but
also gradually decreased unemployment problem.

At last, I want to say, Globalization is a well excepted term all over the world, but developed
countries are the real beneficiaries of the concept; where as the developing countries are in a
confused situation to relate the term on there economic, social, political and personal life and it
can not helps to reduce the gap between haves and have not.
benifit of globalization in bagladesh

Abstract:
The essence of economic development is the transfer of technology from the industrially advanced
country to the developing world like Bangladesh. It was argued that knowledge is a heritage of humanity.
None should block its spread, as it blocks progress and prosperity particularly for the poor of the world.
Not much has happened to cheer in this regard. One of the ways the multinational companies exploit the
developing countries is by transfer pricing - showing higher invoice prices of raw materials imported from
its own plants elsewhere and thus transfer in hard currency its undeclared profit. Another widely used
practice was to produce a good number of commodities and sell the substitute competing products of
developing countries at a price lower than the cost of production of the latter's products. Jute and
synthetic substitutes were an example of such unwholesome marketing policy. The control and regulation
of these multinational companies were urged on the advanced countries for healthy development in trade
and investment. For the sake of development of their multinationals, developed countries have introduced
Globalization whereas developed country have got the maximum benefit from it. However, after open the
its market and globalize his business, Bangladesh may introduced as a beneficiary country or nor. This is
why, the researchers tried to focus on secondary writings relating impact of globalization in Bangladesh to
find out the real challenges and opportunities for Bangladesh through Globalization in International
market.