Monday, 31 October 2011
Sunday, 30 October 2011
Globalization has assisted development defined in conventional terms as raising the incomes of the five billion people who live in “developing” countries. The growth of China, India, and many other developing countries during the past decade has surely been facilitated by international trade, and notably by the breakthrough into manufactured exports. World poverty, as measured by the number of people below some threshold level of income, is already falling and will continue to fall, probably at an accelerating rate.
But such a measure will increasingly mischaracterize the development problem. Today the core development challenge is no longer posed by raising incomes among the five billion. The countries at the bottom of the international rankings, containing around a billion people, are not just falling behind, they are falling apart. They are not merely diverging from the majority of mankind, they are in absolute decline.
The processes of globalization can claim some credit for the success of the majority of developing countries, but equally they must take some responsibility for this marginalization of the poorest. In particular, globalization tends to accentuate a country’s comparative advantage. For much of Africa, domestic policies and institutions have ruled out manufactured exports, leaving exports dependent upon natural resource extraction with its attendant problems. Worse, the internationalization of crime has made Africa’s weak governance commercially valuable, creating powerful lobbies for the further erosion of the rule of law.
The marginalization of the bottom billion is already creating problems for the international community. Quite aside from the evident humanitarian disaster for the billion people themselves, as countries fall apart they generate externalities of crime, drugs, disease, and safe havens for terrorism for other parts of the world. Adopting polices to accelerate catch-up for the four billion people living in the converging developing countries would be a generous gesture on the part of the already rich. Reversing absolute decline in the bottom billion would not be so much a generous gesture as a matter of common prudence.
This is a serious priority and the problem is how to accomplish it. I have suggested that what is required goes way beyond expanded aid programs, and indeed that aid is unlikely to be the most potent instrument in these environments. Thus policy coherence in rich countries needs to be rethought to move beyond trade policy, taking in military interventions to improve security, and legislative interventions and public-private partnerships to improve governance, in the poorest countries. If globalization is to bring success to the bottom billion, it will come through increased willingness to build on actions such as the sending of British troops to Sierra Leone, the willingness of oil companies and the World Bank to strengthen the scrutiny by civil society of oil revenues in Chad, and the partnership between De Beers and NGOs that produced the impetus for the Kimberley process in the diamond trade. It will require the international financial institutions to refocus their financial resources to solve the problem of the extreme exposure of the poorest countries to destabilizing external shocks.
The fact that such initiatives are happening suggests that at some level the need for them is recognized. Unfortunately, the impetus to quantify the success of development efforts—exemplified by the Millennium DevelopmentGoals and the increasing sophistication of measures of the absolute numbers of people in poverty—risks entrenching at the heart of development policy an increasingly irrelevant conception of the core development problem. Globalization will indeed help to deliver prosperity for a majority of the five billion people in “developing” countries. But by 2015, ordinary people will be worrying about a completely different and far less tractable problem.
Friday, 28 October 2011
Capitalism is in crisis outside the West because developing and former Soviet nations have been unable to “globalize” capital within their countries. Most people in these nations view capitalism as a private club, a discriminatory system that benefits only the West and the elites of poor countries. We may now all be benefiting from the communications revolution, and some may see progress in the fact that the Egyptian Sphinx now stares directly at the neon sign of a Kentucky Fried Chicken franchise. Nevertheless, only 25 of the world’s 200 countries produce enough capital to benefit fully from the division of labor in expanded global markets. The lifeblood of capitalism is not the Internet or fast-food franchises. It is capital. Only capital provides the means to support specialization and the production and exchange of assets in the expanded market. It is capital that is the source of increasing productivity and thus the wealth of nations.
Only the Western nations and small enclaves of wealthy people in developing countries have the capacity to represent assets and their potential, and therefore the ability to produce and use capital efficiently. The major obstacle confronting the developing world is that most of its citizens lack the legal representation provided by a formal property system. Eighty percent of the population in these countries cannot inject life into their assets and make them generate capital because the law keeps them out of the formal property system. So long as the assets of the majority are not properly documented and tracked, they will remain stuck in the extralegal sector and be invisible in the broader marketplace.
This obstacle can be overcome, provided that governments are willing to legally integrate the informal sector into the broader economy through a formal property rights system. This would allow the majority of developing countries’ citizens to convert their work and vast hidden resources into capital. It would also provide extralegal citizens with legal representation, enabling them to overcome the first two obstacles to capital development: the lack of a division of labor and the lack of ability to specialize in the broader economy. By transferring the ability to enforce obligations from extralegal groups to the government, it would provide incentives for people to seize economic and social opportunities outside of their immediate local community, and specialize instead within the broader marketplace.
Unfortunately, many of the current promoters of capitalism fail to realize that their macroeconomic reforms are not enough. Drafting regulatory frameworks, enhancing international trade and investment, and opening up once-protected economies are necessary reforms, but they are not sufficient. Many macroeconomic reform programs wrongly assume that populations are already integrated into the legal system and have the same ability to use their resources in the open market as do populations in the West. Economic reformers have left the issue of property for the poor in the hands of conservative legal establishments uninterested in changing the status quo. As a result, the assets of the majority have remained dead capital stuck in the extralegal sector.
Many economic reform programs may be falling into the same trap that Karl Marx foresaw, but on a global scale: the great contradiction of the capitalism system is that if too much capital is concentrated in one sector, the rest of the system is at risk of collapse. By not giving the majority access to expanded markets, these reforms are leaving a fertile field for class confrontation—a capitalist and free market economy for the privileged few who can concretize their property rights, and relative poverty for a large undercapitalized sector incapable of leveraging its own assets.
The problem remains of how we settle the disparities that come with the benefits of capitalism and globalization. Ultimately, the missing ingredient and the key to overcoming the shortcomings and inequities of capitalism is to give everybody access to the same legal instruments that allow for the creation of surplus economic value.
Monday, 17 October 2011
Ini adalah senarai bab yang terdabat di dalam buku The Future of Globalization Explorations in light of recent turbulence.
Forces that propel, forces that resist
1--Missing ingredients of globalization
HERNANDO DE SOTO
2--Globalization with a human face
3--Africa and globalization
4--Building partnerships for an inclusive globalization
MARK MALLOCH BROWN
5--Globalization and the future of human rights
6--The future of globalization: lessons from Cancún and recent financial crises
Trade, growth, and inclusion
7--Investment climate and international integration in Asian developing economies
DAVID DOLLAR, MARY HALLWARD-DRIEMEIER, AND TAYE MENGISTAE
8--The future of the global trading system: Doha Round and beyond
T. N. SRINIVASAN
9--Liberalization and industrial performance: evidence from India and the UK
PHILIPPE AGHION AND ROBIN BURGESS
10--Openness and poverty reduction in the short and long run
11--Does the liberalization of trade advance gender equality in schooling and health?
T. PAUL SCHULTZ
12--Fooling ourselves: evaluating the globalization and growth debate
JUAN CARLOS HALLAK AND JAMES LEVINSOHN
Local and regional experiences
13--The Middle East: challenges and opportunities of globalization
HEBA HANDOUSSA AND HEBA ABOU SHNIEF
14--Bangladesh: development outcomes and challenges in the context of globalization
15--Combining policies to benefit from globalization: the case of China
16--Explorations in light of financial turbulence from Asia to Argentina
Sunday, 16 October 2011
Saturday, 15 October 2011
Kamus Pelajar Edisi Kedua
GLOBALISASI ---> fenomena yg menjadikan dunia kelihatan kecil dr segi perhubungan manusia disebabkan pantasnya perkembangan teknologi maklumat.
Kamus Dewan Edisi Empat
GLOBALISASI ---> proses yg membolehkan sesuatu aktiviti (ekonomi, kebudayaan dsb) disebarkan atau diperluas ke peringkat antarabangsa atau ke seluruh dunia, terutamanya dgn adanya kemudahan sistem komunikasi, dasar terbuka dsb.
Thursday, 13 October 2011
jengjengjeng..... haaa... ni la budak2 class ak... ade 30 orang semuanya.. 8 org je Laki,, slbhnya pompuan yg pegang! wahhh,, hebatkan pompuan? e2 la globalisasi namenye.... hik3... Oke, tugasan kali ni,, kte org kne wat blog dan kene ade buku rujukan sendiri.... so,, stp org mmg kene ade buku larh!... dah msk final year ni,, perangai pon kene ubah la...
Tuesday, 11 October 2011
intresting about this bOOk...!
Erudite and topical, this well balanced treatment, with essays from world renowned contributors including the former President of Ireland – Mary Robinson, Jagdish Bhagwati and Nobel prize winner Joseph Stiglitz, considers the forces that propel globalization and those that resist it. Local and regional experiences from Bangladesh, China, India, Latin America and the Middle East are analyzed along with some of globalization’s most potent risks.
Giving voice to sophisticated and illustrative reasoning, The Future of Globalization offers useful insights into the extraordinary human achievement brought about by increasing international economic integration, interdependence and interconnectedness, and shows how this has been a powerful force for the progress of humankind. The contributors take stock of the debate on globalization and explore ways to make globalization more beneficial for individuals, communities and countries, as well as ways to reduce its insufficiencies and mitigate the risks it faces.
This book will benefit all students of economics, political science and international relations, among others, and is useful to courses that focus on globalization and its impacts.
About tHe AuthOr....
Ernesto Zedillo is the Director of the Yale Center for the Study of Globalization; Professor in the Field of International Economics and Politics; and Professor Adjunct of Forestry and Environmental Studies at Yale University. He was President of Mexico from 1994 to 2000.