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Home Weekly Editorial

Globalization must not leave the “Bottom Billion” Behind

Web Desk by Web Desk
3 weeks ago
in Editorial, Weekly
Reading Time: 3 mins read
Globalization must not leave the “Bottom Billion” Behind
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BY HAROON RASHID BHAT

Let us write new lines in human history and make a man as its central character and humanity as its central theme”

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The historian traces the phenomena of globalization long before the European age of discovery, but in the late 19th century and early 20th century, the connectivity of the world’s economic and cultural activities grew quickly. As far as the importance of these two activities is concerned, they both occupied a significant position in the development of human society. But, it has been seen that for the last few decades, all those countries that became part of this globalization process remain more focused on material gains. They enhanced their economic activities. This whirlpool of globalization brought more harm to human society than gives any sort of comfort because of the irresponsible attitude and unending greed of a modern man. We have seen most the developed or underdeveloped countries instead of utilizing the capital gained through this globalization process in essential sectors like health, education, employment, and the environment, most of them are investing the maximum portion of their capital in importing or exporting deadly weapons, ignoring the other important aspects of human life. It is the human values that guide us to invest in essential sectors, but unfortunately, a modern man became just like a robot or the money minting machine. He became an unemotional entity, forgetting his moral or social obligations towards other living or non-living entities. Moreover, it leads to the gradual loss of human values. This modern form of globalization lacks inclusiveness. Instead of making this whole globe one family as claimed by the people who are in power, It has widened the gap between or among the countries. The rich became richer and the poor became poorer. During the COVID-19 pandemic, the situation exposed the weaknesses of the states concerning their insufficient medical infrastructure, poor economic condition, the problem of starvation, employability, etc. It was a high time to introspect whether to go with the present structure of globalization or to bring some kind of reformation in it to make it inclusive in its approach and action. Under the new or altered form of globalization, let the developed nations provide genuine and equal opportunities to developing and underdeveloped states; widen their role so that they will flourish and grow at their own pace. They can adapt their indigenous methods to attain sustainable development in a true sense. Let’s encourage all the states to utilize the available resources effectively so, that they become self-sufficient. We can motivate them to invest a major portion of the GDP in important sectors like health, education, employment, environment, etc. In this connection, the civil societies, worldly personalities associated with different fields, and NOGs working for the welfare of human societies can play a pivotal role in this noble cause. Let the heads of all states/countries take the severity of the COVID-19 situation into view and join the hands for the welfare of the whole human race in general and more importantly for the poor or marginalized people whose main concern is not guns, missiles, bombs. Instead of this, their main concern is proper nutrition, good health, education, employment, a pollution-free environment, and sustainable development. To achieve this grand purpose, there is need to encourage fair competition which is a prerequisite for the efficiency of markets at home and internationally – and for public trust in the economic system. Low barriers to entry encourage innovation and benefit the consumer, with some recognized trade-offs for markets that are disrupted by technology or trade. Selectively halting fair competition yields poor results; moreover, unfair competition in key markets or in international trade hurts the cause of globalization. Hence, whether in industry, services or in the media, anti-trust actions to avoid capture are in the broader interests of inclusiveness. Societies that are intrinsically unfair and do not offer opportunities to their populations are incompatible with globalization’s goals, since benefits are narrowly captured. Level playing fields at home and rules-based international trade gains require effective competition policies, fair trade rules that are enforced, and lack of capture of these institutions by the powerful or the state-sponsored. “Let’s write a new plot in human history and make a man as its central character and humanity as its central theme”

Haroon Rashid Bhat is a teacher and columnist , can be reached at minamharoon123@gmail.com

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