buy custom Concept of Globalization essay

buy custom Concept of Globalization essay According to Deepak (2002), The World Bank and the international monetary fund (IMF) have been undermining the power which different states possess through their constant making decisions which are very binding to the developing countries and are very undemocratic. This is using globalization in a negative manner in which the sovereignty and power found within a state are not considered when decisions are been made. The World Bank and IMF use the fact that when a country has no form of power then the country has no right to sovereign power (Tonelson, 2003). When developing countries are ensuring that their political systems and their government become democratic, their international counterparts such as the World Bank who are said to be part of the globalizing world are barely democratized. Democratization implies that people of a nation whether from a developed or that of developing country should be involved in decision making. This is not the case since the World Bank and IMF who are considered as the globalization players impose decisions such as liberalization and privatization policies that affect the developing countries. Decisions made by this organization should be democratic and not biased to the developing countries. Deepak (2002) asserts that, globalization has made developing countries to have great debt accumulation because of the decisions made by the World Bank and IMF to have great rates for the countries that borrows money from them (examples of these countries? Referencing would be good here). The fact that developing nations want to be part of the globalization process; they are force to borrow money from the international community so as to be in the same level with the globalization players (Deepak 2002).. The loan taken becomes a huge burden to be paid. When these debts accumulate the World Bank and IMF no longer allocate finances to social and economic goals of these countries hence there is no growth in globalization in these countries. The Greece bailout is a clear eample of IMF operation that happened recently which clearly defines its interventions. Government of Greece had turned to IMF to cover up its bankruptcy. This idea was met with great criticism that the discussed intervention will lead to tougher measures to ensure that cost is cut down. The decision by the IMF to assist in rising up little amount to cover bankruptcy was termed as merciless source of monetary delinquent which is normally associated with Americans and other developing countries. Other than the decision of assisting in rising up some money, the IMF could have lowered the rates it had offered to the Greece government so as to minimize the debt (Helena, 2010). Due to globalization, the decision of opening borders and having liberated labor movements by the world trade organization has created a situation of drain on human capacity from the underdeveloped countries (Deepak 2002). This has created a negative impact on globalization since the underdeveloped countries do not have any left knowledge on globalization due to brain drain. This claim is very clear and evident through such initiatives like Green Card where most of those applying for them come from poor nations to go and work in developed world such as America. In another term human capacity should be important in attracting globalization forces rather than frightening it away like what is done by the transnational corporation and other global entities such as the World Bank and the international monetary fund. According to Ha-joon (2002), Global civil society such as the non governmental organizations and civil rights movements has also played part in the definition of globalization as intrinsically undemocratic. This is because the civil society has largely been involved in making social decisions which instead should be under the control of the national government. For instance, they make demands such as accountability and transparency, competence in leadership, gender equality and democracy whose implementation lies within the hands of public administration. The civil society has taken thhe mandate of forcefully initiating them at unspecified cost hence going against transparency (Ha-joon, 2002). In conclusion the concept of globalization can simply be looked at as the hastening, intensifying, growing and widening effect of global interconnectedness even though it can be defined in various ways. Just like globalization has no single definition, there is no consensus as whether it is an important concept to illustrate current events or not. It entails interaction of people, cultures, economic and political activities aided by innovations in transport and communication technology. As all these aspect interact, decision making process concerning vital social and economic policies has shifted from being a single nations affair but left in the hands of foreigners and transitional organizations. As a result, globalization is basically undemocratic due to the fact that decision making on economic policy and social issues is no longer in the hands of national authorities but rests within the benevolence of transitional organizations. Although globalization has posed tremendous challenges to the developing countries compared to the developed countries, it is so obvious that it has greatly improved conditions which are inform of technology, infrastructures, equipments and institution. Transnational Corporation, supra-national organization, global entities and global civil societies should be at the forefront in ensuring that globalization is carried out in a democratic way and that all nations should have equal opportunities when it comes to the issue of globalization. It is very important that international agencies e.g. united nations to change the attitude of been undemocratic and instead provide the right technical assistance to public administration of different states, so as to strengthen their capacity in dealing with issues that concerns globalization. By so doing the world is guaranteed of an environment that is intrinsically democratic when it comes to understanding what globalization is. Buy custom Concept of Globalization essay