Globalization

” Another Scholar named Dr Asfour said “Globalization is another term for capitalism and imperialism and we need to consider that it should not endanger our political, social, cultural and economical stability. There is a need that proper attention should be given to the underdeveloped countries which visualizes globalization as a tool of eroding their cultural values and imposing the economic supremacy of capitalist countries. A culture is a mixture of norms, values and traditions, which develop over a long period of time. He further stated that promotion of English as global language is being considered by less developed countries as an attempt to reduce the importance of their own respective cultural traits. Yusuf Shahid in his book “Facets of Globalization” examined in detail the prospective impacts on economics due to globalization. As a result the underdeveloped countries will be deprived of their share in foreign trade and in turn financial deficit of these countries would increase and as a result it will slow down the pace of economic development of these countries. By the end of 2004 the quota system would end and therefore a great challenge would be faced by less developed countries because less developed countries do not have a comparative advantage in the production of industrial goods because of lack of technology and expertise.

In the past three-decade we can see that lot of governments operating in underdeveloped countries were toppled because the political government was not adhering to the demands of the developed nations. That is economic prosperity, cultural integration and social interaction are present behind the globalization.

All scholars economist, sociologist should try to reach on a moderate point of view so that globalization could be diverted to such a direction that it can ensure benefits to all and reduce the grievance and deprivations of the underdeveloped countries. Yoshihara Kuino Voho is a professor of Asian studies and he states that “Globalization is not strictly related to trade and investment with effect felt in relation to money, but it has greatest implications in the form of cultural change”. ”

Some scholars believe that globalization is a threat for the cultures of less developed countries because they argue that the global culture would be denominated by the cultural norms, values and traditions of industrialized and developed countries. It is important to note that emergence of global organizations and bureaucracies could have complicated implications. Due to absolute advantage in technology the developed countries would completely have an upper hand in trade and production. In conclusion it is apparent that developed nations should not use political power to influence the other countries in order to protect their own political and economic interest, because too much interference can cause in clash

Globalization is a highly contentious and a though proving issue.