Its true that globalization has improved the standards of the educated but for the people below poverty line and for the lower middle class it has always been a negative factor. The opening of markets to the world has either made them job less ( conside the opening of retail outlets, definitely our chota shops will not be able to sustain that competition).Now the big question which dangles is how are we going to pass these benefits to those in the lower strata of the society. China is already facing this problem of the difference and they have resolute to overcome this crisis. I think we should learn from this and plan ahead before the gap widens.
I cant believe rediff can allow such shallow articles... this article is the most amateurish piece on globalization, with many glaring loopholes. I urge rediff not to simply allow each and every article just because it has a fancy title from a person from a fancy little b-school.
The Western world seeks globalization in restricted sense. The stalemate over Mittal's bid for Arcelor or port deal for a Dubai company bears testimony to this fact. Selling either Airbus or Boeing to Dubai is OK but how does it become a security threat when a company wins a global bidding. The port deal can be thwarted only if the company gets involved in money laundering or works as a conduit for any terrorist group or gathers sensitive intelligence material. False allegation was launched when one Indian airways company was trying to make a foray into US market. Even the WTO representative while discussing the Mittal issue referred to this dichotomous approach- he questioned the moral ground of forbidding such a bid when a British or American company acquires an Indian or a Burmese company. So, the West till do date is afflicted with a typical mindset of a bygone era to look down upon the developing countries. But the West should know that the sun is blazing in the East and they need to change their one-up-manship psyche to grow in an interdependent world interwined with global supply chain. Else, we will put a sign on our neons- the twain shall never meet. Sounds good!
I can not beleive the author is "an MBA from Wake Forest University and currently works as a financial analyst for Wachovia. " Only thing I see through out the article is "imagine a free world". Good world can not be built just on a dream. There needs to be plan. Why couldn't the author give a perspective of how things should move in order to get to the "drame state" he mentions? What is the equilibrium state? Now Vietnam is coming up. Then jobs will migrate there. After 20 years, jobs will move to Africa. Author shall describe how the final state of this globalization and how everybody will be happy. It has to happen only if there is proper "division of labor" across regions.
