Globalization's Hamper on Brazil and North Korea

Topics: World Bank, Brazil, International Monetary Fund Pages: 5 (1852 words) Published: August 1, 2010
Globalization can be claimed to have commenced since the discovery of currency, others argue that its existence can be traced back to the late 20ths century. Whatever the case, over the past few decades globalization has had a profound effect on most if not all of the globe. Although it is difficult to distinctly define globalization, in its simplest forms it is known as the increased interdependence amongst states aided with the advancements of technology and the development of international organizations. Through this phenomenon many states from all continents have been negatively and positively affected. States have had their economic, political, social, environmental, as well as many other dynamics altered in their ways of governing and their relations changed with other states. In order to further examine these effects, this paper will examine the effects globalization has had on peripheral countries and the role played by multinational organizations such as the World Bank and the International Monetary Fund. These organizations have not only been a product of globalization but also its catalysts. In his work “The Globalization of Poverty and the New World Order”, Michel Chossudovsky addresses the issues faced by numerous states due to globalization and its other consequences on the international sphere. Although there are some positives that can be attributed to the globalization phenomenon, I agree with the author’s opinion that globalization negatively affects the socio-political and economic makeup of a state. Upon further investigation one will be able to determine the impact of globalization on Brazil and South Korea through socio-political and economic perspectives keeping in mind the policies that were created, maintained or altered in order to accommodate globalization. The following analysis of Brazil and Korea’s socio-political and economic policies will demonstrate how globalization has hindered development for a Brazilian state attempting to improve its makeup and a Korean state that had already established an industrial infrastructure.

In order to gain a better understanding of globalization’s hamper on Brazil and South Korea, one must scrutinize the Socio-political influence it has had on each state. The influence of globalization in Brazil started with the “first” democratically elected presidency marked the demise of military dictatorship, as well as the transition towards a new “authoritarian democracy” under the direct control of the creditors and the Washington based international financial institutions” (Chossudovsky 191). This triggers the transformation of Brazil and its integration into the globalization movement. During the former military dictatorship, international creditors were working with a new administration to overtake the government and become part of the international scene(191). After the old regime had been taken out of power, international actors put into place a new president to lead a capitalist democratic progression for Brazil. Shortly after being put into power, the government ministers resigned due to a lack of support for their president. In the meanwhile the president himself made it clear of his commitment to international creditors. The social hindrance of globalization came to the forefront of political corruption in the eyes of the Brazilian people. With the interference of the International Monetary Fund as well as other international forces, the new president was given control over the country’s funds. With the on-going corruption, it was later found that public funds and other expenditures were kept by the president and his advisors(192). Although this later resulted in his impeachment, the damage had unfortunately been done. Any money that is withheld from the public and not redistributed to serve it due to corruption usually translates into regressing social conditions. AS well, once the public discovers the corruption within...
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