Essay About 3Rd World Countries And Ethical Trading

Globalization and It’s Effect on 3rd World Countries
Political ScienceSection A3Topic: Globalization and it’s effect on 3rd world countriesGroup members:Faheem Iqbal (2105)Mahnoor Waqar (2133)Momina Tahir (2149)Mubeen Sanjrani (2117)Fatima Qureshi (2121)Globalization and its effect on 3rd world countriesIntroduction:Globalization is a very recent and modern phenomenon. This term can be used to describe the interconnectedness and inter-dependence of the nations of the world for their economic, political, strategical and financial welfare.  The world’s cultures, economies, philosophies, populations and ideologies have grown interdependent on one another due to the very process of globalization. [1]Globalization promotes and facilitates the flow of such elements both on national and international levels. However, it does have the potential to result in both positive and negative effects on the third world countries. [2]So far so it has been an insurmountable challenge for the third world countries of Asia and Africa. Origin:           The term globalization comes from the word globalize which is a reference to the international network of economic systems which emerged prominently in the 15th century. At most, globalization can be traced back to 1492.Globalization had been used in its economic sense at least as early as 1981, and in other senses since at least as early as 1944. According to economist Andre Gunder Frank Globalization has been in existence since the trade between Sumer and Indus Valley Civilization in third millennium BC. The Islamic Golden Age was also an important early stage of globalization when Jewish and Muslim traders established trade resulting in globalization of crops, knowledge, technology etc. Developing countries such as India, Sri Lanka, Iraq, Syria, Lebanon, Jordan and some African countries, have been affected by globalization. Approximately globalization began somewhere between 1980-1990 in India, Sri Lanka and Bangladesh. Globalization in Lebanon began by 2000.Concept of Globalization in 3rd world countries: Many in both developed and developing countries fear global economic integration. But developing‐ country fears of volatile capital flows are unfounded, as are developed‐country fears of pauper wages due to low‐cost imports. Demands for “ethical trading” are as misplaced as the fears of Third‐ World cultural nationalists that globalization will destroy their valued ways of life Archaic globalisation. Archaic globalization:[3] Archaic globalization is a phase in the history of globalization, and conventionally refers to globalizing events and developments from the time of the earliest civilizations until roughly 1600. Archaic globalization is comparable to present day globalization on a much smaller scale. It not only allowed the spread of goods and commodities to other regions, but it also allowed people to experience other cultures. Cities that partook in trading were bound together by sea lanes, rivers, and great overland trade routes, some of which had been in use since antiquity. Trading was broken up according to geographic location, with centres between flanking places serving as “break-in-bulk” and exchange points for goods destined for more distant markets. During this time period the subsystems were more self-sufficient than they are today and therefore less vitally dependent upon one another for everyday survival. While long distance trading came with many trials and tribulations, still so much of it went on during this early time period. Linking the trade together involved eight interlinked subsystems that were grouped into three large circuits, which encompassed the western European, the Middle Eastern, and the Far Eastern circuits. This interaction during trading was early civilization’s way to communicate and spread many ideas that caused modern globalization to emerge and allowed a new aspect to present-day society.

Proto-Globalisation Proto-globalization distinguished itself from modern globalization on the basis of expansionism, the method of managing global trade, and the level of information exchange. The period of protoglobalization is marked by such trade arrangements as the East India Company, the shift of hegemony to Western Europe, the rise of larger-scale conflicts between powerful nations such as the Thirty Year War, and a rise of new commodities—most particularly slave trade. Protoglobalization trade and communications involved a vast group including European, Muslim, Indian, Southeast Asian and Chinese merchants, particularly in the Indian Ocean region. The transition from proto-globalization to modern globalization was marked with a more complex global network based on both capitalistic and technological exchange; however, it led to a significant collapse in cultural exchange.Types of Globalization and it’s effects:Economic globalization:Advancements in the field of communication and technology have given unmatched versatility to services, goods and capital. Due to the availability of abundant, cheap labor in the South, the Northern countries tend to open world markets to their goods. This motive is chiefly supported by their ambition to strengthen their economy. Thus, the investors earn huge profits by compelling the poor countries to integrate themselves with the international forum. The results have a provoking backlash from the third world states. Although, the World bank promises to eradicate poverty and economic imbalance by loaning the developing states encouraging their economic progress, but these loans often have demands like economic liberalization attached to them. Cultural GlobalizationThe present age of technology has now created the likelihood of global culture. Internet and satellites are erasing the cultural norms and traditions. Global entertainment lobbies influence the dreams and ambitions of ordinary citizens. [4]This rapid spread of cultural norms and values aims at promoting the Western ideals of capitalism. If this system continued functioning then the local cultures will have to sacrifice their heritage and traditions. Eventually, the consumer ideas will overwhelm the social solidarity. And English will inevitably become a global language sweeping away all the others. Accepting the global ideas in one sense is more like sacrificing the state sovereignty which seems like a tough choice for countries that are still struggling for international recognitionPolitical GlobalizationIt refers to the development and growth of political system both in the context of its scope and complexity. This system includes governments at national level , intergovernmental organizations as well as non governmental organizations. One of the best examples is the United Nations which has come into existence because of political globalization.                   There is a heated debate going on the importance of state nation in political    globalization. Political globalization is modern philosophy based on neo liberal ideology, the colonization of life and mass consumption. It discusses the democracy as a governing body which eradicates the traditional division between first, second and third world countries.                    The United Nations main objective is to resolve the issues of its member countries through negotiations avoiding wars. Thus United Nations purpose is to maintain the peace and in this way it helps the third world countries to get their demands in peaceful manner. Pakistan and India have also presented their Kashmir dispute to United Nations so that they can reach a mutually agreed conclusion. Similarly, UNO has taken measures to address Tajikistan civil war, Somali civil war and Soviet –Afghan War.