The Causes Of Globalization

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Proponents of globalisation advocate that globalisation has led to economic growth and development leading to better living standards worldwide and benefiting the whole of human kind. This has not been entirely true, some countries have benefitted more than others, there have been visible signs of economic unevenness despite the promises of globalisation. Economists advocate for global economic convergence, that poor countries will soon catch up to the rich developed world. This paper attempts to discuss causes of this economic unevenness focusing on the international institutions that influence the process of globalisation and this has made global economic convergence nearly impossible. KEY WORDS : global economic convergence, economic unevenness,…show more content…
So as a working conceptualisation, Held and Mcgrew’s expansive definition is more useful: Globalisation denotes the expanding scale, growing magnitude, speeding up and deeping impact of interregional flows and patterns of social interaction. It refers to a shift of transformation in the scale of human social organisation that links distant communities and expands the reach of power relations across the world’s major regions and continents . Some globalisation definitions can be one dimensional such as the Marxists whose idea of globalisation is based on capitalism and classes of society. The above definition provided by Held and Mcgrew has more dimensions. It highlights the important historical dimensions of different periods of globalisation over the centuries, from pre-modern to early modern, modern and contemporary globalisation. It also tries to demonstrate that globalisation is not an event but a…show more content…
At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business. It was established in January 1st 1995, its headquarters are in Geneva, Switzerland. It was created by the Uruguay Round Negotiations of 1986-94. The WTO administers a set of agreements on goods, services and intellectual property rights. Nearly 160 countries are members of the WTO, out of which nearly 100 are developing countries. Formally the decision making process in WTO is one country, one vote. Since there are more developing countries than developed countries one would think that the agreements of WTO would work in the interest of the developing countries that are nearly four times as many in number as the developed. And yet the working process in the organisation is such that the developing countries are always on the defensive and not able to safeguard their interests quite effectively in this oragnisation. The developed countries utilize their political and economic power to blunt the strength of the developing
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