4-kurs Cmm-55Tursimetova Munisa arguments in favour of globalization, and arguments against - Arguments Against Globalization:
- The critics criticize globalisation as the corporate agenda—the agenda of the big business and the ideology the developed countries to dominate and control the international economic system in a bigger, deeper and more subtle and intensive manner.
1. Gains of Globalisation for Rich at the Cost of Poor: - 1. Gains of Globalisation for Rich at the Cost of Poor:
- Under the process of Globalisation, big business has done well despite the slackened productivity growth. Globalisation has helped the corporate elites to keep wages down, to skim off a large fraction of the reduced productivity gains, thereby permitting elite incomes and stock market values to rise rapidly.
- As against it for the majority of countries, globalisation has not been productive of good and beneficial results. Income inequality has been rising markedly both within and between countries. The gap in incomes between the 20 per cent of the world’s population in the richest and the poorest countries grew from 30 to in 1960 to 82 to in 1995, and the Third World countries suffered deterioration in several aspects.
- Per capita incomes fell in more than 70 countries over the past 20 years; some 3 billion people—half of the world’s population, continued to live on under two dollars a day; and 800 million continued to suffer from malnutrition. In the Third World, unemployment and underemployment remain rampant, massive poverty exists side-by- side with growing elite affluence, and 75 million people a year or more have been seeking asylum or employment in the North, as the Third World governments allow virtually unrestricted capital flight and seek no options but to attract foreign investment. Even the economies of the USA and Japan witnessed a trend towards recession in the post-September 2001 months.
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