Impact of globalization in the developing countries: The case of Bangladesh

Abstract

This is an age of globalization-everything is encircled with this process. It has been turned into a power having largely engagement with world’s conventional, influential and leading matters. It has many more good sides; on the other hand, huge dark phenomenon exists within this process. It has been turned into a determining factor or conflict matter between the South and the North. Blame game or psychological dialects are ongoing issues on the negotiating table. In the last three decades, the western countries are almost on leading and winning position in the globalization process; but developing nations cannot adapt fully with this tidal and complex system due to their internal weakness along with the external factors. Globalization is a big polishing brush – a good pair of leather shoe is needed to adapt with this -if shoe is not available, brush is not only an ineffective thing but also a burden for maintenance. Developed nations are running themselves with their established basement; so global opportunities are being poured in favor of them naturally. It is hard true that obviously the poor nations have to be seated on the running train; otherwise all sorts of sufferings grasp them – as globalization is a global reality to be unavoidable. Bangladesh is getting a little share of globalization though garment, pharmaceuticals, leather and ship building industries get a momentum in the economy – though it could have been many more contributive. But on the other hand, Bangladesh faces a lot of challenges created by the globalization process. Some developing nations (India, China, Brazil, Turkey, South Korea, Malaysia, and Singapore) make a shining development through globalism. It is noted that globalization is a little bit responsible for bad governance of Bangladesh causing the economic setbacks. Socio-economic growth and living standard might be doubled through globalization, if Bangladesh like nations of the world could ensure good governance, human capital and technological advancement. The research work is conducted for reality based some objectives - those are basically applicable for Bangladesh and other poor countries. Several important questions are objectified in the work. Broadly, the thesis aims to investigate on how globalization impacts on the socio-economic and political arenas. Specifically this research attempts to identify the global factors and consequences that influence on development discourse and social change (Introduction section). As foreign aided nation, Bangladesh and same others can formulate hardly the public policy independently. Such types of aided policy make a development illusion that functions with less important sectors bypassing the core agendas - bureaucratic setbacks make these projects important to all for their narrow interests. Historically, it is proven that the delegated development approach cannot adapt or function accordingly for a distinct societal well being. Dominant western media makes cultural imperialism (chapter 4) causing broken down the oriental social structure, conventions and cultural hybridization getting eroded its heritage. Social values are not functioning favored humanism. Such these questions are tried to open up and be obvious before the victim states in the work. The research has been carried out by following explanatory method. It is applied to explain the existing works from contemporary and future-oriented views focusing the impact factors of globalization on how and where policy matters in the poor nations are tracked out. Qualitative approach is mostly used here as social behaviors are influential factors to be found out the roots of the problems. Content analysis (introductory section) is conducted on the secondary sources (book, journal, articles, media and office records). Globalization refers to a world in which societies, cultures, politics and economics have comes closer together (chapter 1). It can be defined as the intensification of worldwide social relations which link distant localities. Globalization means the free movement of information, labor, capital, goods, culture and entertainment crossing the boundaries. English language and the communication technologies play as vital role in these free movement process across the world when the term globalization is used in the second sense – to refer to time-space compression – there is a close link with the development of new communication technologies and the post modernity. Mainly three types of globalization exist in the world – each society is being touched or impacted by them at any stage or any means. There are: communication, market and direct globalization (chapter 1). Due to the advancement of digital technology, communication globalization influences deeply human lives. Its effect includes economic activity and cultural aspects of people. When culture and economy are transformed by western model, ideology and values, hybridization trends grab the societal norms and shape. Trade and capital mobility are the progressive issues – are derived from the market globalization of which main feature is based on economic liberalization. Human rights are frequently violated in the developing countries but global judicial authority or global human rights organizations can play a little positive role in this connection. Actually globalization started actively its journey after World War II. In 1947, the GATT was set up to oversee the removal of international trade barriers and supervise the expansion of international trade. It was based on the premise that ‘free trade’ stimulates the expansion of international trade and economic growth faster than can even the most internationalists of national trade policies. In 1989 there is set up ‘Washington Consensus’, which fixes some 10 number of rules and terms on trade and economy, influenced by the GATT. Both these international accords are finally converted into a unique organization WTO, established in 1995, which is the controlling authority for international trade relations. In this thesis two numbers of theories which greatly comply with the topic. One is ‘libertarianism’ and another is ‘Anarcho-Capitalism’ that has been followed thoroughly in the research work. Economic liberalism makes a flexibility of trade, tariff, monetary policy and investment management worldwide following the international rules. These cause trade syndicate, oligopolism, corruption and economic criminality and these are the bad outcomes of the theories. On the other hand anarcho – capitalism refers to free market, privatization – state cannot interfere the market at a minimum level which is directly followed by globalization process. In these two theories, the thinkers who contribute mostly are: William Belsham, Roderick Long, Joseph Dejacque, H. L. Mencken and Albert Jay Nock, Murry Rothbard, Lysander Spooner and Benjamin Tucker. The chapter two has explained the globalization of economic and trade policy and activities – how state authority deals with. The economic and trade functions are getting integrated followed by cross-border activities. No individual state can take any policy-decision hereby on macro-economic management and international trade for survivalist or prosperity. International laws, rules and regulations control the world trade – formulated by International Governmental Organizations (IGOs) so that economic and trade growth increase at a standard level. International trade in fact increases 30-60 percent in last two decades, it is absolutely true and that has been possible through international trade regime; but poverty, inequality, unemployment and human rights violations are on negative or questionable stands. Actually, globalization may be continued to be in question, if along with economic and trade growth, poverty, inequality, security matters are not included. Individualism, liberalism, deregulation and privatization are undoubtedly the smart agendas of global agencies – these are putting a strong impact on human lives worldwide hitting each door (chapter 2). The western world itself is victimized also by such the economic policies in the world introduced by its own in their socio-cultural and humanistic phenomenon. It is evident that they are gaining economic and trade returns more than that of their aspiration. But it is keenly observable that whether the third world can achieve their trade share from the global market or not. If investment, assistances and trade share would become within an equitable and legal framework; hunger, poverty, bad governance, poor human capital would be reduced at a significant level. Bangladesh gains six percent growth, sixteen billion dollar reserve, twenty percent export growth at continuous trends; but good governance, security matters, social justice have been addressed hardly. Bangladesh has already deregulated and liberated all the public policy matters towards the market line. It is thought that the elite classes of business, media, NGOs, intellectuals have not only been autonomous but also syndicated gainers backed by political power to meet their vested interests. But the stands of mass people are being substantially marginalized as they cannot be within the syndicalism or oligopolism – policy supports do not work in favor of them. Development issue and social dimension in the developing countries are widely discussed in chapter three. In post second World War period, development aspect got prioritized mainly to USA in the purpose of reconstruction in war-ravaged developing countries. Following the Bretton Woods Agreement two financial and trade bodies were set up (WB and IMF). They made some development plans based on economic growth – loans, technical assistance and some conditionality are imposed upon the developing nations under Structural Adjustment Programs (SAP). East Europe, Latin America, Africa and Asian some countries were then their targets – these are newly decolonialized nations received their development agendas. In 80s it is reviewed that the loan recipient countries of Asia and Africa could increase growth at a desirable rate; but poverty alleviation and unemployment status were in previous conditions as only elite classes could access to the aided resources. In late 80s World Bank and IMF started to provide loans along with the agenda of balance distribution. But outcome got improvement too little (chapter three), Mexico, Brazil, Malaysia denied to receive the assistance – therefore liberalism and deregulation approaches were adopted then and these programs are existing still in the developing countries like Bangladesh. Social change is a matter in the world that is as worried as positive through globalization multilateral agencies make rules, regulations for economic and trade prosperity – they are also including the social issues (health care, education, population, labor rights, human rights) with their global agendas (chapter three). All the global social agendas are being formulated in the view of economy – so social change of economic-orientation is meant as consumerism. Liberal globalism makes a capitalist social class and on the other hand, an ultra poor class is of its logical sequence. Capitalist class in the developing nations enjoys all social and political advantage and authority – the reverse class gets marginalized more and more. Globalization is herein failed to instruct any real solution. Individualism is going to so higher point that social behavior is continued to self-interests and that is why, social conventional institutions (family, kinship, marriage) are fragmented. Social stratification gets too momentum that makes the society unstable. Consumer and aesthetic culture grab the human lives where moral values turn into a silly matter. So crimes, clash are undoubtedly an alarming issues in the world. Digital media (smart phone, TV, internet) is playing a striking role in reshaping the social behavior. Worthless love, sexism, emotional pleasures hurt the social norms and the young generations are fallen into the complex and deflective web causing a great social unrest. Globalization keeps impacts on all sorts of nations more or less – but it is noted that Bangladesh like Third World countries (Africa, South Asia) are entirely influenced in policy matters (chapter four). From 80s Bangladesh formulates its macro-economic policy following the global rules and regulations massively – thus horizon of economy is increased arithmetically. But its living standard and sustainable development are seriously in question – human rights, social values and environmental governance are going to ruining hole as well. Global authority advocates the socio-economic and political liberalism and deregulation more than that of justice, industrialization, health care, education, unemployment, state violence and human basic needs. As a result, the resources of foreign aids generate corruption, mismanagement, misappropriation, business killings and social injustice – however donor agencies are not agreed to withdraw their development partnership in this regard – that raise a million dollar question today in Bangladesh. Foreign agencies do not show eagerness in the political criminalization, democratic deficit of the Third World countries – they are busy with their favored issues that make fragile conditions in policy process and governance. Environmental issues in Bangladesh are a burning question – global partners are only in document service herewith. Communication and digital technology push the world cultural hybridization dominated by Westerns – thus the Western world is in favored conditions with cultural and digital business. Oriental society gets the erosion of cultural heritage – religious own beliefs and moral values are on alarmingly threats though ICT based activities, individualism and cultural pluralism increase in positive trends. Moreover, Bangladesh like countries has to go ahead in socio-economic and political sectors coping with the global challenges and minimizing the internal core national problems.