|
|
|
| home
| about IDEAs | contact
| archives |
|
|
|
|
 |
|
| Globalisation
and the South: Some Critical Issues |
|
|
|
| Price
:Malaysia: RM15,Third World: US$9,Others: US$12 |
|
Click to Enlarge
|
|
This book examines
the implications of some of the main features
of the globalisation process for the developing
countries. It also makes several proposals for
developing countries in considering national-level
policies to face the globalisation challenge,
as well as coordination among developing countries
in facing negotiations or making proposals at
the international level.
While there are many aspects to globalisation,
among the most important is the recent globalisation
of national policy-making not only through the
normal spread of orthodox theories but more importantly
|
through international
agencies, such as the Bretton Woods institutions
and the World Trade Organisation, through which
the North has leverage over the South.
The book examines the liberalisation of trade,
finance and investment as well as policy implications
and choices in each of these categories. It is
argued that, while there are some advantages to
an open regime for developing countries, the impact
of openness depends on a country's level of development
and preparedness to take on the challenges of
subjecting local production units to foreign competition,
of being able to break into world markets, and
of weathering the volatility and fickleness of
private capital flows and their propensity for
leading receipient countries into a debt trap.
It is therefore imperative that developing countries
be given the possibility to have an adequate range
of options, of when, how and to what extent to
open their economies. For them to maintain the
choice of flexibility in policy options, developing
countries have to collectively press their case
in international forums and institutions where
decisions on the global economy are made. Failure
in doing so would mean that developing countries
will continue to be subjected to international
and national policies that are unsuitable to their
development, and that more than ever close off
their development prospects and options.
About the author:
Martin Khor is the Director of Third World Network,
a network of several NGOs in different parts of
the developing world. An economist trained in
Cambridge University who has lectured in economics
in the Science University of Malaysia, he is the
author of several books and articles on trade,
development and environment issues.
He is a board member of the South Centre and of
the International Forum on Globalisation. He was
also formerly Vice Chairman of the UN Commissio
on Human Rights Expert Group on the Right to Development
and a consultant in several research studies under
the United Nations.
Contents
Introduction
I. The Globalisation
Process
A. The liberalisation of trade, finance and investment
B. The globalisation of policy-making
C. Rising inequality and the effects of globalisation
D. Weaknesses of the South in facing the globalisation
challenge
II. Key Issues in Trade
A. General
B. Commodity prices and terms of trade
Proposals
C. Trade liberalisation
Proposals
D. The WTO and the multilateral trading system
1. General
2. Lack of realisation of anticipated benefits
for developing countries from the Uruguay Round
3. "Implementation problems" faced by
developing countries from the Uruguay Round
4. Pressure for new issues in WTO
5. General proposals
III. Key Issues in
Finance
A. Financial liberalisation
B. Volatility and negative effects of short-term
capital flows
C. Inappropriate response to debt crises and financial
crises
D. Lack of mechanism for debtor-creditor burden
sharing
E. Lack of transparency and regulation of international
financial markets
F. Proposals
1. International-level proposals
2. National-level proposals
IV. Issues in Investment
Liberalisation
A. Introduction
B. The benefits and risks of foreign investment
C. Regulation of and policy options on FDI
1. Regulations on entry and establishment
2. Policies favouring local firms and domestic
economy
3. Measures to manage the balance of payments
D. Critique of attempts at international investment
agreements
E. An alternative approach
F. Proposals for appropriate management of foreign
investment
1. Summary of conclusions
2. National-level policies and actions
3. International-level policies and actions
V. General Conclusions and Proposals
A. Balancing opportunities and problems resulting
from globalisation
B. The need for South-South policy coordination
among developing countries
C. The need for appropriate and democratic global
governance
D. Rebalancing the roles of State and market
E. The search for appropriate development strategies |
| |
| November 11, 2002. |
|
| |
|
|
|