Globalization Effect on Pakistan
Affect of Globalization on Pakistan
The word Globalization refers to “the growing integration of economies and societies around the world” (World Bank 2010). There has been an increasing amount of connection between various economies and one of the greatest challenges we face is to make this connection a positive one. Globalization certainly has the greatest influence on developing nations around the world. Countries such as India, China and Russia have been positively affected by globalization since they are able to trade goods in which they have a comparative advantage. For some other nations, globalization has not had such a positive influence. In certain parts of the world, it has led to a worsening of the economy, exploitation of labour, decrease in local production and worst of all, an increase in inequality.
Pakistan is a developing country neighboring India and China. It is the 6th most populous nation in the world and has a population density of 212.4 people/km2 (MEAS 2010). It is made up of 4 provinces, each of which speaks different languages. Pakistan is a democratic parliamentary federal republic with Islam as the state religion. The country is known to be one of the most politically unstable ones where the state has been ruled under the military for several time periods. It is also one of the world’s most corrupt nations where politicians or any person with power rarely act ethically. It is easy to recognize that this country does not have strict laws pertaining to the economy, labor, or the environment, and therefore, exploiting its people and resources is common. Although globalization has had a fairly positive influence on its neighboring nations, the same cannot be said about the country itself. Globalization has negatively impacted Pakistan by creating more inequality in the country. The country’s regional inequality, income inequality and consumption inequality seem to be increasing with globalization. This paper looks into how and why
The word Globalization refers to “the growing integration of economies and societies around the world” (World Bank 2010). There has been an increasing amount of connection between various economies and one of the greatest challenges we face is to make this connection a positive one. Globalization certainly has the greatest influence on developing nations around the world. Countries such as India, China and Russia have been positively affected by globalization since they are able to trade goods in which they have a comparative advantage. For some other nations, globalization has not had such a positive influence. In certain parts of the world, it has led to a worsening of the economy, exploitation of labour, decrease in local production and worst of all, an increase in inequality.
Pakistan is a developing country neighboring India and China. It is the 6th most populous nation in the world and has a population density of 212.4 people/km2 (MEAS 2010). It is made up of 4 provinces, each of which speaks different languages. Pakistan is a democratic parliamentary federal republic with Islam as the state religion. The country is known to be one of the most politically unstable ones where the state has been ruled under the military for several time periods. It is also one of the world’s most corrupt nations where politicians or any person with power rarely act ethically. It is easy to recognize that this country does not have strict laws pertaining to the economy, labor, or the environment, and therefore, exploiting its people and resources is common. Although globalization has had a fairly positive influence on its neighboring nations, the same cannot be said about the country itself. Globalization has negatively impacted Pakistan by creating more inequality in the country. The country’s regional inequality, income inequality and consumption inequality seem to be increasing with globalization. This paper looks into how and why
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