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Globalization is a new form of imperialism

It is a process that breaks down boundaries between countries and slowly transforms the globe into a unit. Globalisation has economic roots and political consequences, but it has also brought into focus the power of culture in this global environment — the power to bind and to divide in a time when the tensions arising out of integration and separation tug at every issue that is relevant to international relations.

In other words, it began with the emergence of capitalism in Europe about five hundred years ago. Its later development was in the forms of colonialism and imperialism. Characteristics of these two systems have been the economic exploitation and plunder of territories that were colonized and people who were dominated in order to ensure accumulation of capital or wealth by the colonial and imperialist powers Globalization is carried out through the policies of liberalization, deregulation and privatization.

GLOBALISATION: A NEW FORM OF IMPERIALISM ==ESSAY FOR SBI PROBATIONARY OFFICER EXAM.

Liberalization policy encourages, among others, free market and free flow market can encourage efficiency and healthy competition, but it is mostly motivated by the desire to accumulate large profits, to the extent that the interests and welfare of people are often compromised. Also, in order to attract capital investments various governments offer many incentives, which, when benefiting foreign capital, cause losses to the country.

Deregulation strengthens the possibility of free competition by reducing, setting aside or abolishing all restrictions or barriers to economic activities. One of the consequences of deregulation is that the position of the low-income groups is weakened.

Regulations, which exempt payment or impose low fees on health or education for the lower income groups, can be cited as an example. If these regulations are removed under the diktats of the IMF, which opposes subsidies, it will surely increase the burden on the economically weaker sections.

It is true that privatization can be a better alternative when the management or administration under the public sector is fraught with inefficiency, waste and corruption.

  1. A workshop, mainly composed of senior economic historians, convoked at Harvard by the Luxembourg Institute for European and International Studies, recently asked why some countries are rich and some so poor.
  2. This last is often the case with religious culturalisms, which easily slide toward obscurantism and fanaticism.
  3. Will the rivals confront each other like the imperialist powers of the earlier period?
  4. The question of community identity—ethnic, religious, or other—is therefore one of the central questions of our time.
  5. Thus the victory of the liberation movements that just after the Second World War won the political independence of the Asian and African nations not only put an end to the system of colonialism but also, in a way, brought to a close the era of European expansion that had opened in 1492. If men are reasonable, then the results of their political choices can only reinforce the results produced by the market.

But in practice, it is also well known that privatization does not necessarily offer a better and cleaner management. Management of water, electricity and telephones after privatization has not become any better than before, but the charges and levies for these services have increased to the extent that they have become burdensome on the people.

In addition, there are also pressures from the developed countries — through IMF, World Bank, World Trade Organization WTO and trade blocs — to remove trade barriers in developing countries, so that their doors can be widely opened to capital and commodities from the powerful countries. When this happens, the big capitalist countries get an opportunity to dominate the economy of the developing countries, which are striving for developing countries, so that their doors globalization is a new form of imperialism be widely opened to capital and commodities from the powerful countries.

When this happens, the big capitalist countries get an opportunity to dominate the economy of the developing countries, which are striving for development. In this way, the process of neo — colonialism begins. When national economies are increasingly inter-linked and capital is mobile, crisis in one country can rapidly spill over to other countries, creating a kind of global domino effect.

There can be no denying that this is exactly what has happened in the past. One good example in this context is the South East Asian crisis. Developing countries have been ruined in the process.

The idea of the nation-state was perhaps the most significant concept and practical innovation of modern times.

IS `GLOBALIZATION' JUST ANOTHER WORD FOR IMPERIALISM?

But, in the new global age, it is becoming increasingly irrelevant. Economic control by developed countries result in strong political influence over developing countries.

Dominant economies use these international agencies to expand their interests and global influence. When the WB or IMF lend to developing country, they often impose strong conditions, camouflaged as structural adjustments. Economic or corporate adjustments involve steps to reduce costs and control labour, in a way that erode the competitive advantage of loanee countries.

These often result in the reduction of wages or increase in productivity without increase in the wages. Expenditures grouped under subsidies for social sector, including education, health and housing are reduced.

Experiences in various countries like Mexico and the Philippines demonstrate how WB and IMF loans have resulted in their being dominated by developed countries via these institutions.

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Besides, globalization also encourages the dissemination of what is characterized as global culture. Developments in communication and transportation have heralded the emergence of a global mass culture. It is feared that this will lead to stripping away of individual identity of cultures and a bland uniform world.

In terms of dress, fashion, social mores and intellectual practices, most people are fast becoming indiscernible from Westerners. Western-style individualism is on rise. The age-old cultural value of social conformism is fast losing relevance. Traditional societies, who prided themselves on their exclusively, are fast losing their distinctiveness.

In the past, this had led to socio-cultural conflicts and this may happen in the future too. So, why do these leaders of developing countries accept globalization?

Firstly, the waves of globalization are too strong an influence of the superpowers too great, so much so that the process has become inevitable. Thirdly, some of the political leaders and leading economic figures believe that globalization, the policies related to it and the capitalist system can provide them and their groups with huge profits.

As has been amply shown, many among them have become rich and powerful through greed, corruption and cronyism. That these have also been responsible for the downfall of many of them, is altogether a different story.

Imperialism and Globalization

Globalisation has become the overarching fact that all countries and cultures of the world must contend. With the developing countries being far behind the developed ones, it becomes important that the latter do not overrun the needs and aspirations of the former.

It is only in this way that the world can hope for lasting peace and prosperity.