Globalization

Globalization means inter-connectivity between cultures, societies, regions and languages. It

refers to free movement of goods, services, people, technology and information. The term
‘Globalization’ is multi-dimensional. It has economic, social, cultural and political connotations.
It is defined as a process of rapid economic integration among countries driven by the
liberalization of trade, investment and capital flows, as well as technological change.
Joseph Stiglitz, an economist and Noble Prize winner defines globalization in his book
Globalization and its Discontents as “Globalization is the closer integration of the countries
and people of the world… brought about by the enormous reduction of costs of transportation
and communication, and the breaking down of artificial barriers to the flows of goods, services,
capital, knowledge, and people across borders.”
The phenomenon of globalization has created a dichotomy of perception dividing the word into
plethora of apprehensions and appreciations due to intense velocity with which the information
about people, products, nature, environment, politics and economy disperses across borders,
countries and nations creating one world into a global village. The words of late Dr. Mahbub ul
Haq provide the true vision: “Globalization is no longer an option, it is a fact. Developing
countries have either to learn to manage it far more skillfully, or simply drown in the global cross
currents.”
Globalization is not a novel or new term. For thousands of years, people___ and later,
corporations have been buying from and selling to each other in lands at great distances such as
through the famed Silk Road across Central Asia that connected China and Europe during the
Middle Ages. The process of global economic integration was perpetrated at the behest of World
War II, when the leaders of Britain and the US fumbled with the idea of reconstructing the war-
torn world monetary system with a focus on favoring free of capital, a liberal, capitalist world at
the end of the war to counter the shadows of Socialism and Marxism.
To promote the new monetary world order, a conference was arranged in July 1944, at Bretton
Woods, New Hampshire, to create the world’s most powerful institutions: the International Bank
for Reconstruction and Development (the World Bank) and the International Monetary Fund
(IMF). The programs initiated by these institutions were aimed at liberalization of developing
countries’ markets. The reforms and conditional ties imposed laid basic foundation to open
economics to steer the mechanism of economic integration giving birth to most controversial of
all among international organizations, the World Trade Organization (WTO).
The development of these international institutions further lead up to global, political legal
institutions such as United Nations Organization (UNO) and International Court of Justice (ICJ)
to provide mechanism for the diplomatic settlement of international disputes through these
channels for the sake of protecting human rights. In 1990’s, a rule was passed by UNO that if
there is a violation of human rights in any part of the world the whole world or the UNO will
stand against it. Furthermore it is also mentioned that culprit will be treated strictly. Thus, it
ensures the rights of all the individuals across the globe irrespective of gender, religion, ethnicity,
race or culture.
There are some who link the negative aspects of globalization to terrorism. In simple terms, they
argue that exploitative or declining conditions contribute to the lure of informal ‘extremist’
networks that commit criminal or terrorist acts internationally. The advancement of technology
has expanded these networks all over the world. Thus, terrorism, in a sense, is too globalized.
Another demerit of globalization is that it breeds credit based economies. The first world
countries intentionally do not allow the deficit countries to stand on their feet. The third world
countries are unable to run their economies by their own, so they have to open their palm in front
of big crocodiles. President Erdogan, at the Turkey-Africa Economic and Business Forum in
Istanbul, criticized the West for colonial policies in the Middle East and Africa, “I see
contemporary globalization as a new way of colonialism, modern slavery.” These developed
countries and organizations string conditions with that debt and don’t let the smaller countries to
utilize their own resources
Further, the prevalence of global culture means dominance of Western culture: the West have
means to promote their culture and traditions. Modern media and entertainment sources are
totally influenced by the West. The younger generation fantasizes the west and is also playing
totally in the hands of western culture. The Muslims are lacking the modern sources of
interaction to the other world so globalization is totally in the lap of Western culture.
The truth is, globalization has not really led to a situation of interdependence and equality as has
been claimed. Instead, it has led to a situation of Southern financial dependence on the North and
indebtedness to Western international financial institutions. In some cases, globalization has even
led to a situation of unfair competition, increased poverty and greater debt. While globalization
may have increased wealth for some, it has also increased poverty for many others.
But as technology becomes more efficient, the world becomes more globalized. Now, improved
communication and transportation contribute to this rapidly forming ‘global village’, where
everyone and everything is connected. Further, globalization is a blessing of comparative
adventure and interdependence. The famous saying of Aristotle “man is a social animal’ is true
even today. Every state is interdependent and no state can live in isolation. History witnessing
the fact that if anyone tried to live in isolation, he faced great difficulties in response i.e. Sudan
and South Korea.
Globalization is now a reality which needs rethinking and careful examination of the concerns
and criticism coming from post-colonial societies. The economic structure, the social and
political order, cultural colonization, and selective use of global, legal and political institutions
for the sake of western dominance have certainly created the crisis of legitimacy of globalization.
The accumulation of wealth and domination of Multi-National Corporations have also added to
unemployment, poverty and exploitation of natural resources of non-western societies. Only
incorporating the concerns of these societies and states into global institutions based on
democratic participation and decision making where genuine legal structure are ensured to
protect economic and political independence of these states can channelize the idea of
globalization in twentieth century.