OBJECTIVE

To evaluate how globalization affect the

developing countries
GLOBALIZATION: A NEW GARB OF
IMPERIALISM?
 Globalization with its huge paraphernalia appears to be a new garb or a
ploy of the imperialists to reclaim their lost grounds in the colonies. It is
argued that the neoliberal design of global market and imperialist ambition
of colonizing the world has been converged in the project of globalization.

Immanuel Wallerstein, a famous American sociologist, equates capitalism

with globalization. However he rarely mentions globalization. Rather, he
prefers to call it a ‘world capitalist system’, instead of globalization.
IMPACT OF GLOBALIZATION ON
DEVELOPING COUNTRIES
 The first casualty of globalization in the context of the developing countries
is the shrinkage of social sector. The social sector has so long been jealously
guarded by the state. Health, education, and infrastructure have so long been
provided by the state. But, with the onset of globalization, especially as a
part of aid conditionality state had to move out of social sector, leaving it to
the vagaries of market forces.

CASUALTIES
 Second, the exposure of the social sector to the market forces as part of SAP had a far-
reaching and pernicious impact for the developing countries as it led to exclusion,
marginalization of resources and pauperization.
Third, globalization has also led the developing countries to an extractive
mode of economic development. Unlike their developed counterparts, most of
the developing countries have found it difficult to sustain in this globalized
order. Consequently, they have been compelled to indulge in an extractive
mode of development in order to remain in the fray.
Fourth, as a corollary of the previous point, the above compulsion of globalization had a serious
ramification for the environment per se.