Globalization and its effects on developing countries.
Summary
TLDRThe video script delves into the complexities of globalization, highlighting its role in economic integration and the debate surrounding its impact on inequality and the environment. It discusses the benefits of increased trade and opportunities for growth, as well as the challenges faced by less developed countries in enhancing competitiveness and addressing brain drain. The script also touches on the importance of sustainable development and international cooperation in overcoming global challenges.
Takeaways
- 🌐 Globalization is a complex and debated concept, often described as the integration of economies and societies worldwide, with varying impacts on different countries and groups.
- 📈 Rapid economic growth in countries like China and India has been a positive aspect of globalization, contributing to poverty reduction and increased opportunities for both rich and poor nations.
- 🔄 However, globalization has also faced criticism for increasing inequality and environmental degradation, with concerns about the interests of multinational corporations potentially overshadowing local industries and workers.
- 🏭 For some, globalization represents a new form of colonization, where less developed countries risk becoming markets for cheaper foreign goods, leading to job losses and a decline in living standards.
- 💡 The script emphasizes the role of information and communication technology as a key driver of globalization, facilitating the rapid spread of information and enabling instant access to global markets.
- 🌱 Sustainability is highlighted as a critical issue, with the need for development that balances economic prosperity, environmental quality, and social equity to ensure long-term benefits for all.
- 📚 The importance of education and technological capacity is underscored, as it can help developing countries compete in the global market and take advantage of the opportunities presented by globalization.
- 🔑 Developing countries need to build their capacity to negotiate and understand the multilateral trading regime to benefit from international trade and avoid being at a disadvantage.
- 💼 The script discusses the potential benefits of e-commerce for developing countries, allowing even small and medium-sized enterprises to access global markets at a relatively low cost.
- 🧩 The challenges of brain drain for developing countries are noted, where the emigration of educated and skilled workers can be detrimental to local development but also presents opportunities for international cooperation and exchange.
- 🌳 The concept of sustainable production is introduced, emphasizing the need for managing natural resources responsibly and addressing the adverse effects of globalization to achieve long-term environmental and social benefits.
Q & A
What is globalization and why is it a debated topic?
-Globalization refers to the growing integration of economies and societies around the world. It is a debated topic because it has both positive aspects, such as rapid growth and poverty reduction in certain countries, and negative aspects, including increased inequality and environmental degradation.
How has globalization impacted countries like China and India?
-Globalization has contributed to rapid growth and poverty reduction in countries like China and India, which were economically poor 20 years ago.
What are some of the criticisms against globalization?
-Critics argue that globalization has increased inequality, led to environmental degradation, and is a strategy by multinational corporations to safeguard their interests, potentially leading to a new form of colonization.
What does economic globalization imply?
-Economic globalization implies increasing global interlinkages of markets in goods, services, capital, and financing, which has been accelerated by factors like liberalization, deregulation, privatization, and declining costs of transport and communication.
How has the spread of information and communication technology contributed to globalization?
-The spread of information and communication technology, particularly the internet and the World Wide Web, has been a significant catalyst for globalization by making it possible to access and share information instantly and facilitating global trade.
What challenges do less developed countries face in the context of globalization?
-Less developed countries face challenges such as lack of efficient production facilities, inadequate infrastructure, weak management capacities, low levels of technology, and inefficient transportation and communication systems, which limit their ability to benefit from globalization.
How can developing countries increase their competitiveness in the global market?
-Developing countries can increase their competitiveness by investing in infrastructure, developing human resources, strengthening institutional capacity, enhancing technological capability, and supporting local enterprises.
What is the role of the World Trade Organization (WTO) in globalization?
-The WTO plays a significant role in globalization by providing a framework for the rules of trade between nations, which can help countries integrate into the world trading system on favorable terms for their development.
How can developing countries benefit from electronic commerce in the era of globalization?
-Developing countries can benefit from electronic commerce by providing relatively cheap access to global markets for small and medium-sized enterprises, even in remote areas, allowing them to compete on a more level playing field.
What is the concept of sustainable development as it relates to globalization?
-Sustainable development in the context of globalization involves achieving economic prosperity, environmental quality, and social equity simultaneously. It aims to meet the needs of the present without compromising the ability of future generations to meet their own needs.
How can developing countries address the issue of 'brain drain' in the face of globalization?
-Developing countries can address 'brain drain' by creating policies that incentivize skilled workers to stay, investing in education and training, and potentially forming international organizations to regulate the flow of skilled labor across borders.
Outlines
🌐 Globalization: Debates and Definitions
This paragraph delves into the complexities of globalization, a topic of intense debate in international economics. It acknowledges the positive aspects, such as economic growth and poverty reduction in countries like China and India, while also addressing the criticisms related to increased inequality and environmental harm. The concept of globalization is explored as a multifaceted issue, with some viewing it as a new phase of capitalism or a novel way of thinking, while others see it as a force for economic openness and opportunity expansion. The paragraph also touches on the skepticism and opposition to globalization, suggesting that it might be a strategy by industrialized nations and multinational corporations for self-interest and a new form of colonization. The role of international organizations like the IMF, World Bank, and WTO in shaping globalization is highlighted, with a note on the potential for these entities to prioritize their own interests.
📈 Challenges and Opportunities for Developing Countries in Globalization
The second paragraph focuses on the challenges faced by less developed countries in the context of globalization. It points out that many of these countries lack internal market integration and face issues such as poverty, illiteracy, and reliance on agriculture. The paragraph discusses the difficulties these countries encounter in increasing their competitiveness and share in international trade, despite preferential market access provided by developed nations. It emphasizes the need for these countries to build capacity in areas such as infrastructure, human resources, institutional strength, technology, and support for local enterprises. The potential benefits of e-commerce for developing countries are also highlighted, including access to global markets for small and medium-sized enterprises. The paragraph concludes by noting the importance of understanding and navigating the multilateral trading regime to benefit from it.
💡 Information Technology and Sustainable Development in a Globalized World
This paragraph examines the role of information and communication technology in globalization and its impact on developing countries. It discusses the need for these countries to extend the reach of ICT to maximize its benefits while curbing its negative uses. The paragraph also addresses the issue of brain drain, where educated and skilled workers migrate to developed countries, and suggests the creation of an international organization to regulate this flow. The concept of sustainability is explored, emphasizing the pursuit of economic prosperity, environmental quality, and social equity. The paragraph references Agenda 21, the action plan for sustainable development adopted at the Earth Summit in Rio de Janeiro, which includes recommendations for managing natural resources and addressing environmental issues. The importance of international cooperation in overcoming global challenges is highlighted, and the potential of globalization for improving living standards and values such as ecological care, democracy, and peace is discussed.
🌿 Globalization's Impact on Environment, Democracy, and Peace
The final paragraph of the script reflects on the broader implications of globalization for the environment, democracy, and peace. It acknowledges the potential for resource shortages and conflicts due to environmental crises but also recognizes the positive contributions of globalization to improving living standards and vital societal values. The paragraph suggests that while the discourse on sustainable development varies, there is a general consensus on the importance of international cooperation in facing future challenges, whether they be environmental or related to regional conflicts. The video concludes with a call to action for viewers to subscribe to the channel for more information and ends with a promotional note for Digit Pro, a digital marketing service for executives, managers, and business owners.
Mindmap
Keywords
💡Globalization
💡Economic Integration
💡Inequality
💡Multinational Corporations
💡Information and Communication Technology (ICT)
💡E-Commerce
💡Sustainable Development
💡Brain Drain
💡Structural Adjustment Programs
💡World Trade Organization (WTO)
💡Agenda 21
Highlights
Globalization is a debated topic with both positive and negative aspects, such as economic growth and increased inequality.
Rapid growth in countries like China and India has been a positive outcome of globalization.
Opposition to globalization arises from concerns over inequality and environmental issues.
Globalization is often described as a process rather than a precise definition.
Some view globalization as a new way of thinking or a stage of capitalism.
Globalization can increase opportunities and benefit workers in both rich and poor countries.
Critics argue that globalization leads to a new form of colonization and joblessness in less developed countries.
The IMF, World Bank, and WTO are seen as the main driving forces behind globalization.
Globalization has become an unstoppable phenomenon affecting all aspects of life.
Economic globalization involves increasing interlinkages of markets in goods, services, capital, and financing.
Technological advancements, particularly in ICT, are key catalysts for globalization.
Less developed countries face challenges in integrating into the global economy due to various constraints.
Developing countries need to build capacity to negotiate and understand the multilateral trading regime.
E-commerce offers opportunities for small and medium enterprises in developing countries to access global markets.
Sustainability is crucial for achieving long-lasting development and resolving conflicts between human needs and nature.
Sustainable development incorporates environmental, economic, and social concerns.
Brain drain is a significant policy challenge for developing countries undergoing globalization.
Developing countries need to strengthen their capacity for competitiveness to benefit from international trade.
Globalization and economic progress can help improve living standards and vital human values.
International cooperation is essential to overcome future global challenges.
Transcripts
[Music]
globalization
the growing integration of economies and
societies around the world
has been one of the most hotly debated
topics in international economics over
the past few years
rapid growth and poverty reduction in
china india and
other countries that were poor 20 years
ago has been a positive aspect of
globalization
but globalization has also generated
significant international opposition
over concerns that it has increased
inequality
and environmental degradation but what
is the concept of globalization
globalization is the most talked and
debated issue in the contemporary world
it is a concept that escapes precise
definition in most cases
it is described rather than defined some
commentators have described
globalization as a stage of capitalism
or late modernity and some remarks that
globalization is a new way of thinking
however it does not mean the same thing
for all
for some globalization is a process of
opening up economy so that trade between
countries could take place freely
for them increasing globalization has
helped the expansion of opportunities
for nations and benefited workers in
rich and poor countries alike
brings positive benefits for consumers
helping to increase choice
drive down prices improve services and
create new jobs and opportunities
globalization can therefore be seen as a
positive force for change that has the
potential to raise living standards and
drive economies forward
however this is not readily acceptable
for all
many think globalization is the
concerted strategy of the industrial
world
particularly of the multinational
corporations to safeguard their interest
and spur a new form of colonization
after opening of market less developed
countries will become a supermarket of
foreign goods
which are cheaper killing local
industries and increasing many more
jobless
for them globalization means increasing
poverty and deteriorating living
standard of the workers
widening disparity between the rich and
the poor within the country
and among the countries and
internationalization of capital to the
detriment of labor market
even for the moderates globalization is
a process of restructuring the world
economy
to find ways for business to maximize
profits and even some ultra skeptics
have dismissed any notion of
globalization as myth those analysts
claims concerning globalization are
greatly exaggerated
if not utter fantasy the international
monetary
fund the world bank and the world trade
organization
and more generally the high-income
countries are held responsible for
influencing and largely determining the
course of the globalization process
they are also seen as the driving forces
behind the policy reforms
that the developing countries had to
implement as part of their structural
adjustment programs under the
supervision of the international
monetary fund
the world bank and the world trade
organization
it is obvious that those countries and
organizations will only foster their own
interests
globalization has become an unstoppable
phenomenon affecting all aspects of our
lives
some governments political parties and
trade unions often view this development
as a best challenging and at worst
sinister
business and their representative
organizations on the other hand
promote the benefits of open trade
across political boundaries and the
integration of markets to create global
opportunities
globalization is a process of increasing
economic and non-economic linkages
across the world
in the broadest sense globalization
implies integration of economies and
societies across the globe
it is equated with the massive
irresistible cross-border flow and
integration in the movement of goods
technology labor and capital resulting
mainly from breakthroughs in
transportation and communication
technology
in a wider perspective globalization
covers various activities such as
cultural globalization
political globalization ecological
globalization
economic globalization and so on but
here i am mainly discussing economic
globalization
and as the same time try to cover some
other aspects of globalization as well
economic globalization implies
increasing global interlinkages of the
markets in goods services
capital and financing such a process has
speeded up in the recent decade
the contributory factors for rapid
economic globalization
are liberalization deregulation
privatization and declining costs of
transport and communication
the microelectronics revolution has
irrevocably changed the essence of human
contact to earth
distances are shrinking and information
is spreading faster than ever before
the internet and world wide web have
helped this process
perhaps the most important catalyst for
globalization is the spread of
information and communications
technology
through the magic of information and
communications technology
it is now possible to instantly access
useful information through the internet
and the latest computer
technology while talking about
globalization
we must understand that most less
developed countries national economy is
not even
internally integrated market
institutions and forces are yet to
emerge in a competitive way nearly half
of the world population lives in
absolute poverty and illiteracy
more than 70 of the population earns
livelihood from agriculture
which however constitutes only about 40
of the less developed countries national
income lack of proper planning process
commitment accountability and integrity
of the governments
and lack of people's participation and
development activities caused that the
developing countries
particularly the less developed
countries have not been able to
substantially benefit from international
trade
due to both external as well as internal
constraints
the developing countries have not been
able to increase their share in
international trade
despite the preferential market access
opportunities provided by the developed
countries
it has been realized that market access
for the developing countries is
commercially meaningless
if they cannot increase their
competitiveness in the sectors in which
they have preferential treatment
in the developing countries lack of
efficient production facilities
adequate infrastructure weak management
capacities
low level of technology and lack of
technological capacity and inefficient
transportation
communication and education limits their
potential to specialize in crucial
productive sectors and to reap the
benefit of preferential trading
facilities
for economies like most less developed
countries to integrate into the world
trading system
on terms and conditions favorable to
their development needs they need to
build their capacity to negotiate at the
multilateral level
this will happen only if they are able
to increase their ability to understand
the multilateral trading regime espoused
by the world trade organization and
formulate their national policies to
benefit from it
they also need to strengthen their
capacity to benefit from international
trade
by increasing their competitiveness
through investment in infrastructure
development of human resources
strengthening of institutional capacity
enhancement of technological capability
and supporting local enterprises
including linkages between large and
small enterprises
by joining the world trade organization
they can now fully enjoy the rights that
all members have under the world trade
organization agreements
such as non-discrimination by other
world trade organization members and the
ability to use the world trade
organization's dispute settlement
procedure
the membership will provide tremendous
international market opportunities
for less developed countries however
taking advantage of the new opportunity
will also be quite challenging most of
less developed countries has few
industries and hence very little to
export
many of them do not have enough surplus
produce threats to domestic industries
from cheap imports also loan
information and communications
technology allows trade to become
simpler and more streamlined even
it needs not and arguably should not
entail universalization
thus increasing the value and speed of
transactions
companies are not limited to physical
locations or their own organizational
boundaries
for providing products and services
networked information systems
are allowing companies to coordinate
their geographically distributed
capabilities
and even coordinate with other
organization as virtual corporation
one major advantage of promoting
electronic commerce in most developing
countries is that they can provide
relatively cheap access to global
markets even for small and medium-sized
enterprises in remote areas
small and medium enterprises have been
playing a significant role in the
economic development of most developing
countries
potential benefits of e-commerce for the
developing countries are immense
any company can enter global markets
where size and location have become
rather irrelevant
success in e-commerce will have an
immediate impact not only on
productivity and profits
but also generate new jobs employment
educational opportunity and livelihood
even that most accounts of globalization
have been silent on
its consequences for knowledge framework
friedrich aaron
believed that information and
communications technology has even
generate fundamental different
methodologies in the developing
countries
as the student in the developing
countries can now attend some of the
best international university courses
online
and accessing almost any information to
educate themselves in the same level as
their competitor in developed countries
from not having access to any books to
all books in the world
however after accession of world trade
organization
most countries have tremendous
opportunities for exporting their
products in the international market
as even the former head of iran's
national center for research on
globalization says tehran should
prioritize joining the world trade
organization
but to substantially benefit from
international trade less developed
countries
must need to strengthen their capacity
by increasing their competitiveness
through investment in infrastructure
development of human resources
strengthening of institutional capacity
enhancement of technological capability
educational improvement and supporting
local enterprises
including linkages between large and
small enterprises
as esfandiar raheem ashway noted that it
would not be possible to attract
investments without providing the
necessary support to the private sector
we have been experiencing the fact that
the more technologically capable
countries continue to dominate their
less capable counterparts
effectively monopolizing opportunities
for economic growth through their
insurmountable advantage in information
and communications technology
given these diverse possibilities
occasion by globalization
it is of extreme necessity for
developing countries to re-examine the
trends in information and communications
technology development worldwide
and devise ways by which their
advantages can be maximized
this includes the need to extend the
breadth and reach of information and
communications technology to peoples and
sectors that stand to benefit the most
while curtailing its illicit and
destructive uses even though there are
those who do not support globalization
the fact is that it is here to stay and
if we do not embrace this thought
we may get burned but the challenge for
less developed countries is how to
achieve a sustainable
development in the globalized world of
rapid technological change
driven by inequalities of wealth and
power and the main question is how less
developed countries could achieve
competitive advantage
when the injustice global competition
for educated talent has distorted the
local market for educated professionals
in many of less developed countries
as the population of the developed world
ages many countries face shortages of
quality educated professionals
western nations are turning to younger
nations to fill this gap brain drain is
a significant policy challenge for
developing countries undergoing
globalization
brain drain describes the immigration of
educated and highly skilled workers
every day in countries all over the
world people leave their home countries
in search of a better
life for themselves and their families
however to address the solution to those
issues we may need to define
sustainability in the concept of
sustainable production first
sustainability has now become world's
number one issue to be pursued for
achieving a concrete and long-lasting
development
it is a process which tells of a
development which commands all aspects
of human life affecting sustenance
sustainability means resolving the
conflict between the two competing goals
the sustenance of human life and the
integrity of nature
sustainability involves the simultaneous
pursuit of economic prosperity
environmental quality and social equity
famously known as three bottom lines
in essence sustainability is the ability
of sustaining sustainable development
which is a process of change in which
the exploitation of resources
the direction of investments the
orientation of technological development
and institutional change are all in
harmony and enhance both current and
future potential to meet human needs
and aspirations the concept of
sustainability
is discussed at a time when
environmental problems caused by the
various human activities are requiring
serious attention
remedy lies with sustainable development
approaching the management of natural
resources and the adverse effects of
globalization in order to address a
range of problems
in 1992 the international community as
adopted at the earth summit
in rio de janeiro discussed agenda 21
the world's plan of action for
sustainable development it was a
landmark achievement
incorporating environmental economic and
social concerns into a single framework
it contains over 2500 wide ranging and
achievable recommendations
for action on issues such as reducing
wasteful use of natural resources
fighting poverty protecting the
atmosphere oceans
animal and plant life so sustainability
is achieved when it
meets the needs of the present without
compromising the ability of the future
generations to meet their own needs
as agreed in rio de janeiro sustainable
development is associated with issues of
social justice
and the environmental democracy which
stands for the creative participation of
international communities in the
construction of the new environmental
rationality for sustainable production
so following the agenda 21 as the
roadmap to achieve sustainable
development
brain drain in the developing countries
can be solved by creation of an
independent
international organization in the
interest of global sustainable
development
to regulate the flow of people across
borders and make sure that the training
and education of skilled workers will
not be at the expense of less developed
countries
as a step stone for fighting poverty and
promoting democracy
people in the developing countries need
to be trained and having access to the
education
and as the training in education is
still cheaper in the less developed
countries than the developed countries
developed countries by compensating less
developed countries can use those people
as their source for the future labor
shortage
and as the same time achieve economic of
scale and creating a new market
of course the economic policy is not the
only core human and social values
but as the most governments have engaged
in sustainable development policies
driven by the idea of economic progress
this can be a good starting point
followed by the pursuit of other primary
concerns
such as cultural promotion ecological
care democracy and peace but does the
globalization
and economic progress help humanity to
achieve or improve our values such as
ecological care
democracy and peace to answer this
question we shall define
and describe each of those elements
separately in details which are clearly
beyond the space of this video
however as we all know economic
inequality and the poverty has been the
base of most human conflict
even though paul hurst believed most
likely that the environmental crises
will cause the shortage of resources
raw material water dry land and energy
which will produce competing claims for
resources
and being the main reason for the future
conflict and wars
but even without it looking at many
studies and researches which has been
done on the effects of globalization on
environment
democracy and peace we can certainly
claim that globalization and economic
progress will help
and has helped the improvement of our
living standard and so many of those
values vital to us
however even though the discourse on
sustainable development is not
homogeneous
but most people will agree that it will
be easier to overcome future global
challenges
with international cooperation rather
segregation
whatever the challenges will be
environmental degradation
or regional conflict thank you for
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