Globalization and its effects on developing countries.

Summary

The 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

00:00

🌐 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.

05:00

📈 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.

10:01

💡 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.

15:02

🌿 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.

Keywords

💡Globalization

Globalization refers to the increasing interconnectedness of economies and societies worldwide, characterized by the free flow of goods, services, capital, and labor. In the video, it is a central theme, with both positive aspects such as poverty reduction and negative aspects like increased inequality being discussed. The script mentions how globalization has been a catalyst for economic growth in countries like China and India, but also how it has led to concerns over environmental degradation and a perceived form of colonization.

💡Economic Integration

Economic integration is the process of combining or harmonizing economic policies and practices between different nations, often leading to freer trade and investment. The script describes how globalization has facilitated economic integration, particularly through the liberalization, deregulation, and privatization, which have been key drivers in the rapid economic globalization witnessed in recent decades.

💡Inequality

Inequality refers to the unequal distribution of resources, opportunities, or income among different members of a society. The video script raises concerns that globalization has increased inequality, both within and among countries, which is a common critique of the process, suggesting that while it may benefit some, it can marginalize others, particularly in less developed economies.

💡Multinational Corporations

Multinational corporations are large companies that operate in multiple countries and are often seen as key players in the globalization process. The script suggests that these corporations may use globalization as a strategy to safeguard their interests, potentially leading to a new form of colonization where local industries are undermined by cheaper foreign goods.

💡Information and Communication Technology (ICT)

ICT encompasses all forms of technology used to communicate and share information. The script highlights the critical role of ICT in driving globalization, with the internet and the World Wide Web facilitating instant access to information and enabling businesses to operate across borders seamlessly.

💡E-Commerce

E-commerce refers to the buying and selling of goods or services using the internet, and it is a significant aspect of globalization in the digital age. The video discusses the potential benefits of e-commerce for developing countries, such as providing access to global markets for small and medium-sized enterprises, even in remote areas.

💡Sustainable Development

Sustainable development is a development approach that aims to meet the needs of the present without compromising the ability of future generations to meet their own needs. The script connects sustainable development with the pursuit of economic prosperity, environmental quality, and social equity, emphasizing the importance of a balanced approach to globalization that considers long-term impacts.

💡Brain Drain

Brain drain is the emigration of highly trained or intelligent people from a particular country. In the context of the video, brain drain is a significant policy challenge for developing countries undergoing globalization, as it can lead to a loss of skilled professionals who migrate to developed countries for better opportunities.

💡Structural Adjustment Programs

Structural adjustment programs are economic policies prescribed by institutions like the International Monetary Fund and the World Bank to developing countries, often in response to debt crises. The script mentions these programs in the context of globalization, suggesting that they have influenced policy reforms in developing countries, which may have mixed impacts on their economies.

💡World Trade Organization (WTO)

The WTO is an international organization that regulates trade between countries. The script discusses the benefits of WTO membership for less developed countries, such as access to international markets and the ability to use the WTO's dispute settlement procedure, but also the challenges of taking advantage of these opportunities.

💡Agenda 21

Agenda 21 is a non-binding action plan of the United Nations with regard to sustainable development. Adopted at the Earth Summit in 1992, it is mentioned in the script as a framework that incorporates environmental, economic, and social concerns, providing a roadmap for achieving sustainable development in the face of globalization.

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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