Arguments in favour of globalization, and arguments against

Globalisation so far has been a Productivity Failure, a Social Disaster, and a Threat to Stability:
The claim of its proponents that free trade is the route to economic growth, is also refuted by our experience so far. No country, past or present, has taken off into sustained economic growth and moved from economic backwardness to modernity without large-scale government protection and subsidization of infant industries and other modes of insulation from domination by powerful outsiders.
This includes Great Britain, the United States, Japan, Germany, South Korea and Taiwan. All of these were highly protectionist in the earlier take-off phases of their growth process. The governments and institutions bargaining on behalf of the MNCs today, through the IMF, World Bank, WTO and NAFTA, have been able to remove these modes of protection from less developed countries.
This threatens them with extensive takeovers from abroad, thorough going integration into foreign economic systems as “branch plant economies” preservation in a state of dependence and underdevelopment, and most particularly, an inability to protect their majorities from the ravages of neo-liberal top-down development. On the basis of all these arguments, the critics project a formidable case against globalisation.
Arguments In Support of Globalization:
The supporters of Globalisation, even while admitting some of its current and possible bad effects, argue that it is an imperative necessity. It is a natural extension of the prevailing and continuously increasing global interdependence.
1. The Problems Being Faced Today Are Due to Infant Stage of Globalisation:
Presently, Globalisation appears to be threatening global independence. It appears to be threatening the sovereign nation- state system, acting as a source of such crisis as the currency crisis of South East Asian states in 1997, and as a process involving steep social costs having the potential to threaten the economies of various countries.
During the past two decades division of economic growth, particularly created through globalisation, has been a source of increasing inequalities between the rich and low income countries. Nevertheless, these have resulted due to the developing nature of the process of globalisation. Once the process becomes really global and extensive, it will be a source of sustainable development for the world at large.