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The author has brought out that globalisation like many great geo-critical ideologies has become important. Despite the religious conviction with which it was originally conceived, a growing weakness now surrounds its original promise that nation states are heading towards irrelevance, to be replaced by the power of global markets. The economics and not the politics of arms would determine the course of human events. The growth in international trade with the formulation of the World Trade Organisation, it would foster prosperous markets that would in turn abolish poverty and change dictatorship into democracies The author contends that very little has transpired as predicted. The collapse of globalism has created a chaotic situation. The author says instead of surrendering or sharing sovereignty, the government and citizens are really insulting their national interests. The United States that appears to be determined to ignore its international critic European Union is facing numerous problems of immigration, racism, terrorism and renewed internal nationalism. All these issues call for solutions born out of local experiences and needs. Elsewhere also the world looks for answers to African debt, AIDS epidemic, return of fundamentalism and terrorism, all of which perversely refuse to disappear despite the theoretical rise in global prosperity. In addition to the negative aspects of globalism, the author also objectively analyses its successes such as the astonishing growth in the world trade and the unexpected rise of India and China that are being seen as the 21st century superpowers. The author has predicted that "the gigantic developing countries—one socialist and bureaucratic and the other communist—have improved the theory of liberal economics and trade. What more, it is bringing them happiness, so much so that their exports are exploding, high-tech jobs are flowing their way, poverty is shrinking and middle-class growing." The principle agency of change is dealing with internal poverty, which is a political time bomb. China has the most dangerous mining industry in the world. In such a scenario, the author says, the global theories of economies are quite silly. India has the same tensions and complexities and an identical poverty time bomb. The author has quoted
Prime Minister Manmohan Singh: "Economic growth is not an end in
itself. It is a way to create employment, to banish poverty, hunger
and homelessness, to improve the lives of most of our people. The
direction is equality and social justice." |
Globalisation, a process
by which an activity or an undertaking becomes worldwide in scope is not
a 21st century phenomenon. The globalisation of economic activities has
been closely linked with the development and establishment of empires
worldwide through international trade since the 16th
century. Globalisation via development and the spread of
multi-national companies is a more recent phenomenon. With the thrust
on information technology and research and development for high-level
technology, the whole world has become a small village.