Globalization Re-visited

This post originated as a response to The 60 Minutes segment, “Out of India.” I remember seeing this when it first aired in 2004. India is the first developing country to achieve modern growth using a knowledge economy. Again, India’s growth is not only a product of its talent, but also its work ethic- its hustle- if you will. The more I reflect on this video, the more I see it as a preamble to a broad discussion on globalization.

Globalization has a negative connotation in circles on both the left and the right. The argument against globalization’s virtues is grounded on either the loss of US jobs, or the exploitation of developing countries. At the University of Montana, I ran with a crowd who abhorred the players in the WTO/World Economic Forum and turned to movements like the World Social Forum (WSF). The WSF has been held several times in Brasil, once in Kenya, Pakistan, Mali, Venezuela, and in 2004- Mumbai India. Well over 75,000 people attended the Mumbai WSF. Though not quite as compelling as Noam Chomsky speaking in Porto Alegre Brasil 2003, Joseph Stiglitz was a highlight speaker in Mumbai.

The movement originated as a response to the Washington Consensus and policies of the IMF and World Bank, which were seen as gouging the developing world. The premise of the organization is described as follows on the World Social Forum India website. http://www.wsfindia.org/ “The World Social Forum is not an organization, not a united front platform, but ‘…an open meeting place for reflective thinking, democratic debate of ideas, formulation of proposals, free exchange of experiences and inter-linking for effective action, by groups and movements of civil society that are opposed to neo- liberalism and to domination of the world by capital and any form of imperialism, and are committed to building a society centered on the human person.’”

However, globalization viewed closer to the center has many benefits as well as negatives. It’s difficult to determine the net impact. According to the 60 Minutes segment, “Out of India”, it is clear that globalization is improving the quality of life for millions- if not billions- of people in emerging nations like India and China. It is also allowing multinational corporations to enforce trade agreements that may override local governance and law. The verdict is still out concerning the benevolence of globalization, but its reality is undeniable. Polarization on the issue, like many issues, will not be beneficial moving forward. However, concessions on both sides of the argument are necessary to ensure the undeniable reality of globalization progresses for the benefit of multiple stakeholders.