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GLOBALIZATION
Outline:I.
II.

Introduction
Historical Perspective

III.

What Detailed

IV.

Results of Globalization

V.

Shoulds / Solutions

III.

Options for Pakistan

What is Globalization?
i.

Democratization and integration of national economics by enhancing


trade and elimination barriers, minimizing the role of state through
information technology.

ii.

The convergence and intertwining of production, trade, labour and


other relations between countries, and the removal of economic
barriers. It is a spontaneous market process fuelled by the division of
labour compared to a closed economy.

iii.

A universalized form of life that touches on everyone and causes


individuals to orient their actions towards it. (Saturation Tendency)

iv.

A double edged sword, raises economic growth, spreads new


technology and increases living standards, but, assaults national
sovereignty, erodes local culture and threatens economic and social
stability.

v.

Economic liberalization and unification as an antidote to deadly


nationalism coincided with communication revolution.

vi.

Globalization envisaged the goals of social development, reduction of


inequalities and poverty alleviation.

vii.

Neo protectionism (Wests neo protectionism)


a.

subsidize its agriculture

b.

Non-Tariff Barriers (NTBs)


(Quota System, Anti dumping laws)

c.

Environmental standards

d.

Labour rights

e.

Child labour issues

f.

Human rights

g.

Intellectual Property Rights (IPR)

viii. Globalization is harmonization of consumer tastes, preferences and


urban cultures.
ix.

Global capital and trade will go where they are most welcome and
productive.

x.

Political Faade

xi.

xii.

a.

Globalization of American culture

b.

Human rights as a mean of NTB

c.

Political pretext to intervene, where they deem it necessary for


securing their National Interest.

Structural changes
a.

Local industry failure

b.

Farmer without subsidies

c.

NTB child labour, democracy

Downsizing

xiii. Tariff lowered


xiv.

IV.

High & cheap imports


a.

Balance of payment (BOP)

b.

Budget deficit

xv.

Environmental issues

xvi.

Cultural onslaught + ethical / morality

Result of Globalization
i.

Upheavals in many parts of the world

ii.

Developed countries investors have edge over developing countries


cheap production

iii.

Imports have to be paid in global currency forex reserve crisis

iv.

Loss of custom duties GST / VAT

v.

Undocumented economy less revenue, cut in public expenditure


recession

vi.

Social cost of Globalization


a.

vii.

Loss of jobs protests

Subsidies, investor protection, IPR and Anti duping laws

viii. Question of immigration

a.

Free flow of labour

b.

Cultural and social implications

c.

Cultural aftermaths demographic realities

ix.

Copyright issues morality and law at odds

x.

State v/s companies


a.

Weakening of the state instability

xi.

Maturation Tendency Transfer of wealth from poor countries to the


rich widening of existing gaps.

xii.

The developing countries are following a new wave of economic


protectionism . . . .

xiii. Economic of scale lower costs through higher sales and production
volumes.
xiv.

Companies organize production globally E.U


a.

Regional groups produce together / competition

xv.

Economic instability (S.E. Asian ) Grouping G-77

xvi.

No geographical identity in trade capital market

xvii. Nationalism nationalistic feelings


xviii. Technology transfer informative flow . . . . .

V.

xix.

Poverty intensified in developing countries

xx.

Nationalistic + central + civilizational, identities call for


multilateralism

Solutions / Shoulds
i.

ii.

International
a.

A global effort to get developing countries acclimatized to the


new trade realities Debt relief package

b.

Developed nations shoulds address other sectors such as


agriculture, shipping, textiles etc. where developing countries
have large stakes

c.

Immigration issue should be addressed

d.

An effort to bridge the gap in term of social development

Option for Pakistan


a.

Growth should have a genuine trickle down effect

b.

Pakistan should concentrate on a comprehensive paradigm to


get full benefits of globalization
a)

Macro economic stability

b)

Human resource development

c)

Liberalization of financial sector

d)

Good governance (economic + political)

e)

Financial discipline

f)

Giant assistance to education

g)

Documented
mobilization

h)

Law and order

economies

for

better

resource

c.

A joint effort o the part of the developing countries to resist


NTBs (G-77)

d.

Regionalism SAARC, ECO -------

e.

Nationalistic, cultural and civilizational identities should be


addressed.

Statements
Kofi Annan
We cannot wait for Governments to do it all. Globalization operates
on internet time. Governments tend to be slow moving by nature,
because they have to build political support for every step.
Dr. Mahboob-ul-Haq
Globalization is no more an option, it is a fact. Developing countries
will have to learn to swim or they have to drown in global cross
currents.
Robert Bateman
Assumptions like bigger is better; you cannot stop progress; no speed
is too fast; globalization is good. Then, we have to replace them with
some different assumptions: small is fruitful; roots and traditions are
worth preserving; variety is the spice of life; the only work worth
doing is meaningful work; bio-diversity is the necessary, precondition for human survival.

*******
(Altaf Hussain Ansari)