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I am author of the books Political Internet(Routledge, 2017), Intimate Speakers ( Fingerprint! 2017), has finished the typescript of three books—first, on Internet and sexuality; second, on the negative impacts of social media; and third, a novel—and is presently working on a narrative non-fiction with the working title Lovescape: Why India is afraid of love.

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Thursday, April 7, 2016

Why people oppose globalisation and why resistance



See and SBI ad.
 
At the age of 15, I became a national winner of elocution contest
At the age of 16, I cleared national matriculation examination
At the age of 18, I got admission in LSE

Globalisation and Resistance Movements: Feminist, Environmentalist, Various Protest movements, Social Forums etc

Resistance to globalisation is multiple.
Anti-globalization Movement, Alter-globalisation, World Social Forum,
In The Will of the Many: How the Alter-globalisation Movement is Changing the Face of Democracy author Marianne Maeckelbergh argues that the most promising model for global democracy is not coming from traditional political parties or international institutions, but from the global networks of resistance to neoliberal economics, known collectively as the Alter-globalisation movement

Negative impacts

Globalization uses up finite resources more quickly
Globalization increases world carbon dioxide emissions
Globalization makes it virtually impossible for regulators in one country to foresee the worldwide implications of their actions
Globalization acts to increase world oil prices
Globalization transfers consumption of limited oil supply from developed countries to developing countries
Globalization transfers jobs from developed countries to less developed countries
Globalization transfers investment spending from developed countries to less developed countries.
With the dollar as the world’s reserve currency,
Globalization leads to huge US balance of trade deficits and other imbalances.
Globalization tends to move taxation away from corporations, and onto individual citizens.
Globalization sets up a currency “race to the bottom,” with each country trying to get an export advantage by dropping the value of its currency.
Globalization encourages dependence on other countries for essential goods and services
Globalization ties countries together, so that if one country collapses, the collapse is likely to ripple through the system, pulling many other countries with it.
Rising competition
Uncertain employment
Employment Disparity
Cultural Deterioration
Fast food chains like McDonalds and KFC are spreading fast in the developing world. People are consuming more junk food which has an adverse impact on their health. Apart from the health concerns, there is something else that globalization has been criticized for, and it is the accusation that it has opened floodgates for restaurants and eateries which are insensitive to the religious beliefs of the host nation. For example, a lawsuit had to be filed against McDonalds in India, after it was accused of serving beef in their burgers.
Rise in Health Risks
first-known case of AIDS came up in America,  Environmental degradation
Globalisation operates mostly in the interests of the richest countries, which continue to dominate world trade at the expense of developing countries. The role of LEDCs in the world market is mostly to provide the North and West with cheap labour and raw materials.



Globalisation in India

Advent of New Economic Policy -
After suffering a huge financial and economic crisis Dr. Man Mohan Singh brought a new policy which is known as Liberalization, Privatization and Globalization Policy (LPG Policy) also known as New Economic Policy,1991 as it was a measure to come out of the crisis that was going on at that time. The following measures were taken to liberalize and globalize the economy:

1. Devaluation: To solve the balance of payment problem Indian currency were devaluated by 18 to 19%.
2. Disinvestment: To make the LPG model smooth many of the public sectors were sold to the private sector.
3. Allowing Foreign Direct Investment (FDI): FDI was allowed in a wide range of sectors such as Insurance (26%), defense industries (26%) etc.
4. NRI Scheme: The facilities which were available to foreign investors were also given to NRI's.

The New Economic Policy (NEP-1991) introduced changes in the areas of trade policies, monetary & financial policies, fiscal & budgetary policies, and pricing & institutional reforms. The salient features of NEP-1991 are (i) liberalization (internal and external), (ii) extending privatization, (iii) redirecting scarce Public Sector Resources to Areas where the private sector is unlikely to enter, (iv) globalization of economy, and (v) market friendly state.

Consequences of Globalization:
The implications of globalisation for a national economy are many.
Globalisation has intensified interdependence and competition between economies in the world market.
As a result domestic economic developments are not determined entirely by domestic policies and market conditions.
It is thus clear that a globalising economy, while formulating and evaluating its domestic policy cannot afford to ignore the possible actions and reactions of policies and developments in the rest of the world. This constrained the policy option available to the government, which implies loss of policy autonomy to some extent, in decision-making at the national level.

Impact of Globalization on Agricultural Sector:
Agricultural Sector is the mainstay of the rural Indian economy around which socio-economic privileges and deprivations revolve and any change in its structure is likely to have a corresponding impact on the existing pattern of Social equity. The liberalization of India’s economy was adopted by India in 1991. Facing a severe economic crisis, India approached the IMF for a loan, and the IMF granted what is called a ‘structural adjustment’ loan, which is a loan with certain conditions attached, which relate to a structural change in the economy. Essentially, the reforms sought to gradually phase out government control of the market (liberalization), privatize public sector organizations (privatization), and reduce export subsidies and import barriers to enable free trade (globalization).

Impact of Globalization on Industrial Sector:
Effects of Globalization on Indian Industry started when the government opened the country's markets to foreign investments in the early 1990s.
Globalization of the Indian Industry took place in its various sectors such as steel, pharmaceutical, petroleum, chemical, textile, cement, retail, and BPO.
The negative Effects of Globalization on Indian Industry are that with the coming of technology the number of labor required decreased and this resulted in many people being removed from their jobs. This happened mainly in the pharmaceutical, chemical, manufacturing, and cement industries.


Impact on Financial Sector:
Reforms of the financial sector constitute the most important component of India’s programme towards economic liberalization.
The recent economic liberalization measures have opened the door to foreign competitors to enter into our domestic market.
Innovation has become a must for survival.
Financial intermediaries have come out of their traditional approach and they are ready to assume more credit risks.
As a consequence, many innovations have taken place in the global financial sectors which have its own impact on the domestic sector also.
The emergences of various financial institutions and regulatory bodies have transformed the financial services sector from being a conservative industry to a very dynamic one.
 In this process, this sector is facing a number of challenges.
In this changed context, the financial services industry in India has to play a very positive and dynamic role in the years to come by offering many innovative products to suit the varied requirements of the millions of prospective investors spread throughout the country.
Reforms of the financial sector constitute the most important component of India’s programme towards economic liberalization.

Growth in financial services (comprising banking, insurance, real estate and business services), after dipping to 5.6% in 2003-04 bounced back to 8.7% in 2004-05 and 10.9% in 2005-06. The momentum has been maintained with a growth of 11.1% in 2006-07. Because of Globalization, the financial services industry is in a period of transition. Market shifts, competition, and technological developments are ushering in unprecedented changes in the global financial services industry.

Impact on Export and Import:
India's Export and Import in the year 2001-02 was to the extent of 32,572 and 38,362 million respectively. Many Indian companies have started becoming respectable players in the International scene.
Agriculture exports account for about 13 to 18% of total annual of annual export of the country.
In 2000-01 Agricultural products valued at more than US $ 6million were exported from the country 23% of which was contributed by the marine products alone.
Marine products in recent years have emerged as the single largest contributor to the total agricultural export from the country accounting for over one fifth of the total agricultural exports.
Cereals (mostly basmati rice and non-basmati rice), oil seeds, tea and coffee are the other prominent products each of which accounts fro nearly 5 to 10% of the countries total agricultural exports.




Anti-globalization Movement

Disputed term referring to the international social movement network that gained widespread media attention after protests against the World Trade Organization (WTO) in Seattle, WA in late November and early December 1999.
a “movement of movements.
Broadly critical of the policies of economic neo-liberalism, or “corporate globalization
Include trade unionists, environmentalists, anarchists, land rights and indigenous rights activists, organizations promoting human rights and sustainable development, opponents of privatization, and anti-sweatshop campaigners.
Protested outside meetings of institutions such as the WTO, the International Monetary Fund (IMF), the World Bank, the World Economic Forum, and the Group of Eight (G8) heavily industrialized nations.
opposing neoliberalism

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