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Impact of Globalization
Impact of Globalization
Impact of Globalization
CAUSES OF GLOBALIZATION:
The origin of globalization can be traced back till the 16th century when the West started to explore and discover for the new worlds and continents , there first multinational was born for us and the rest is recorded history.
The process of global economic integration was committed at the call of World War II and the first Great Depression, when the leaders of Britain and the US dug with the idea of reconstructing the war-torn world regulatory system Conference in july 1944
several developing countries for stabilization qualified for the loans from IMF and WB. The first IMF/WB Structural Adjustment Loan (SAL) was given to Turkey, in the backdrop of appropriate market oriented policies, in 1980. These programs in a nutshell were aimed at liberalization of developing countries markets.
Pakistan is a mixed economy consisting of a public sector domination of major sectors of the economy, which is changing very quickly under the open market agenda of WTO making the role of government to minimum level under the globalization policies guided by World Bank and IMF.
year when many other Asian countries were recording negative growth Pakistan is the only country in South Asia that has recorded a lower rate of growth in the 1990sthan in the preceding decades.
The country clearly faces a difficult challenge in reviving its economy and in achieving a level of social standards in which it can begin to take pride
Pakistan share in the world merchandize exports has fallen from 0.16 to 0.15. Chinas share in world merchandize exports went up from 1.80 to 5.04.
Malaysia share in world merchandize exports has increased from 0.85 to 1.44.
Pakistans trade sector did not grow significantly during the 1990s despite the liberalization because of narrow range of export markets and export products
absence of trade risk mitigation structure to support the entry of new exportes