000			02592nam a22002417a 4500
005			20210922061604.0
008			210922b ||||| |||| 00| 0 eng d
020			_a8185569533
040			_cAL
041			_aeng
082			_223 _a338.97124 _bKHOG
100			_aMartin Khor _9170
245			_aGlobalization and the south _bSome critical issues
260			_aGod _bOther India Press _c2001
300			_aiii,109 _bPB _c22*14 cm.
365			_b75.00 _d75.00 _f2013/03/24
500			_aEconomics
520			_aThis paper examines the implications of some of the main features of the globalization process for developing countries. It also makes several proposals for developing countries in considering national-level policies to face the globalization challenge, as well as coordination among developing countries in facing negotiations or making proposals at the international level. While there are many aspects to globalization, among the most important is the recent globalization 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 Organization, through which the North has leverage over the South. The paper examines the liberalization 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 lending recipient 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.
650			_2Globalization
650			_2Liberalization
700			_aKHOR (Martin) _9171
942			_2ddc _cGF
999			_c216335 _d216335