Globalization

What are some consequences of globalization?

Some farmers committed suicide because their crops failed. They had bought very expensive seeds supplied by a multinational company (MNC).

An Indian company bought a major rival company based in Europe, despite protests by some of the current owners

Many retail shopkeepers fear that they would lose their livelihoods if some major international companies open retail chains in the country.

A film producer in Mumbai was accused of lifting the story of his film from another film made in Hollywood.

A militant group issued a statement threatening college girls who wear western clothes.

Why did India Adopt globalism?

financial crisis and to the desire for higher rates of economic growth

What is globalization?

Deals with flows

Could be Ideas, commodities, people

Worldwide interconnectedness

Multi-dimensional concept

Political, Economic, and cultural

Vastly uneven

During the colonial period, India became an?

Exporter of primary goods and raw materials

Four major flows of globalization?

Idea, Capital Commodities and people

What is the critical factor for globalisation?

Technology

1986-87 fiscal deficit of India?

9%

Economic Consequences of Globalization?

Free flow of goods and services (MNC’s increasing their exports and expanding their business over the world)

Role of World Bank, IMF and other Financial institutions

Free flow of Capital

Free movement of People

When did globalisation become a catchphrase?

1980s

Unprecedented degree in which markers, cultures, peoples and state were linked together

What are the Four Flows?

Commodities, persons, capital, and ideas

Causes of Globalisation

Technology and Communications Revolution (Capital, raw materials, machines and manufactures goods could reach every corner in the world in no time). Capital could flow easily

Policy of Economic Liberalization and Privatization (Free market). Opened borders to trade and foreign investment. Socialism went down.

Interconnectedness between good and peoples (Would pressure governments to collaborate)

What is Globalization?

Deals with flows like ideas or good/capital moving around

Worldwide interconnectedness is created as sustained as a consequence of these flows

It is a multi-dimensional concept that has political, economic and cultural manifestations. Not social

Affects some parts of societies more than others

What are the four flows

ideas, capital, commodities, and people

What is a critical factor of globalization?

Technology. Ideas, capital, commodities and people can move easily

How does globalization affect state sovereignty?

Results in an erosion of state capacity Marker has become the prime determinant of economic and social priorities instead of people or the government. MNC’s lead to a reduction of governments to take decisions on their own.

States continue to be important

Institutional safeguards and no created by the state

Economic ruin for poor countries

State may become more powerful due to new technologies to monitor its citizens

What do advocates of economic globalisation argue?

It generates greater economic growth and well-being for larger sections of the population when there is de-regulation

It is inevitiable

Trade between two countries benefits everybody

What do moderate supporters of globalization say?

It provides a challenge that can be responded to intelligently

What are the economic impacts of globalization?

Restrictions on movements are reduced

Investors can invest in developing countries and get more returns

Flow of Ideas

Leads to extent of state withdrawal

A small number of people benefit

Re-colonization of the world

Advocates argue that de-regulation leads to economic growth and that it is inverttable

Cultural effects of globalization

Leads to uniform culture or cultural homogenization

Imposition of Western culture

McDonaldisation of the world, cultures seeking to buy into dominant American dream

Shrinks rich cultural heritage

Enlarges out choices and modifies culture (Kurta with jeans)

All cultures accept outside influences all the time.

Positive and Negative

Masala Dosa

Also creates culturally heterogenization

Cultures are not static

All cultures accept outside influences all the time

Who wrote the call center paragraph?

Ranjeetha Urs in the Hindu

What are the criticisms of Globalization?

Makes the rich richer and the poor poorer

Traditional cultures will be harmed, and people will lose age old values

Want to return to self-reliance and protectionism9

What happened at the World Trade Organisation (WTO) Ministerial Meeting?

Protests happened in Seattle alleging unfair trading practices by economically powerful states.

Issue of devlooping world not given interest

What is the World Social Forum?

brings together a wide coalition composed of human rights activists, environmentalists, labour, youth and women activists opposed to neo-liberal globalisation.

The first WSF meeting was organised in Porto Alegre, Brazil in 2001.

Resistance in India

Protests to economic liberalization. Indian Social forum, Against patenting of Neem

Cultural influences

Indian Social Forum

Why can’t we reverse Globalisation?

Countries are interdependent

What has generated considerable opposition?

Patenting of certain plants like Neem by American and European firms