¶ … Defense of Globalization
Jagdish Bhagwati and the Defense of Globalization
It has lately become fashionable to talk about the evil face of globalization as a parasitic force that devours small nations and economies for the benefit of the rich and powerful countries. The anti-globalization movement today has a wide range of supporters, in the West and developing countries, among politicians, scholars, students, environmentalists, human rights activists, and many others. Globalization, these critics contend, further enriches the rich and impoverishes the poor, by using international trade and financial institutions and imposing Western forms of economics on the rest of the world. But in this paper I argue, using insights and arguments from the works of Columbia law and economics professor Jagdish Bhagwati, that the attacks on globalization are contradictory, misguided, and unjustified. Globalization, I argue, has been a force for good in the West and the rest of the world.
One of the oft-repeated charges directed against globalization is that it is a new form of colonialism and imperialism. In the words of Indian anti-globalization activist Arundhati Roy, globalization is "a mutant form of globalization" (Roy, 2002). The main problem with such characterization is the overly simplistic understanding of global forces. Globalization refers to worldwide integration of political, economic, and cultural institutions, but it is the economic form of globalization that comes under heavy criticism most often. The problem with Roy's characterization is that Indians, Saudis, Guatemalans, or any other people from the developing world using financial institutions for their own benefit is also the result of globalization. People in poorer nations having access to the rest of the world by using the Internet, computers, cell phones, tablets, etc., is also thanks to globalization. It would be ludicrous to describe these processes as a "mutant form of colonialism."
There is much more to globalization than just exploitation of weak nations by predatory multi-national corporations. It is true that some multi-national corporations use the loopholes in the international institutions or the corruption in local governments...
Bhagwati says, "But today's most dramatic change is in the degree to which governments have intervened to reduce obstacles to the flow of trade and investments worldwide (p. 11)." He emphasizes to make this next point, which is: But this fact forces upon our attention a disturbing observation: governments that can accelerate globalization can also reverse it. Herein lies a vulnerability that cannot be dismissed complacently. The earlier globalization, in
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Globalisation leading cultural damage exploitation uderdeveloped nations peoples." It include (a) Definitions "Globalisation" (b) Logic linking globalisation free market processes liberal creed. Negative effect of globalization to under developed countries Globalization has been a widely discussed topic among various authors, economics and business analysts and its' from the studies and research that the essay has been built on. First the essay will explain what globalization is and some of the characteristics of
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