Impact Of Globalisation On Third World Countries

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Globalisation and its Impact on third world Countries Subject: Pakistan What is Globalisation? Globalisation, a word that speaks about development and advancement of a country, mainly in terms of maintaining relations with other countries. For e.g. in terms of economy and trade. The word was first employed in the year 1930 as given in oxford dictionary. It is derived from the word globalize which actually refers to all International economic systems. It is all about maintaining economic stability and good International relations with other countries. It is not known when the process of globalisation actually evolved but it is believed that it came to existence in nineties. It is not just about economy but more of openness in trade and exchanging liberal thoughts. Globalisation is now known to be the most important part of a country’s development and also for things like empowerment, employment, liberalisation it plays a crucial role. Many Authors have given their own definitions in order to explain globalisation, such as In The Consequences of Modernity author Anthony Giddens gave the definition as Globalization can thus be defined as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away. One of the Swedish journalists, Thomas Larsson, being the author of the book The Race to the Top: The Real Story of Globalization, defined it as, Globalization is the process of
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