The theory of globalization emerged in 21st century after the 2nd great world war. Theodore Levitt wrote an article named 'Globalization of Markets' in 1983 for the Harvard Business Reviews. Since tremendous growth transportation, communication and technology particularly during the last two decades as a result the world has now become a global village.
The distance between various countries has becomes shorter and the geographical barriers approximately reduces on globally merged. As a result, the mutual dependency and inter transaction are increasing day by day among the countries.Political, Cultural and Business competition is becoming more global and broadens public choice.
Globalization is the movement towards the expansion of economic and social ties among the countries through the spread of corporate institution and the capitalist philosophy that lead to reduction of the world in economic terms. Globalization is a process of interaction and integration among people, companies and governance of different nations. A process driven by international trade and investment and aided by information technology.Recent decades to bring several factors increased growth in globalization.
The factors are: 1. Technology advancement in transportation and communication. 2. Governments are removing international restrictions. 3. Institution provides services according to the conduct of international business. 4. Consumers choice broadens as per demand of foreign goods and services. 5. Competition has become more global across the national economy. 6. Political relationships have improved among some major economic powers. 7. Countries cooperation extended more on trans-national issues.
Bangladesh moved decisively to embrace the wave of globalization in the 1990s. Ever since, the impact of globalization on the political, cultural and economy of Bangladesh, and more pointedly, on the lives of its people, has become a hotly debated issue in the academic and political discussions in Bangladesh as well.However, a closer look at the globalization will show that there are some positive and negative politico-cultural impacts of globalization persist in Bangladesh. These are consecutively describedin here:
Political:Political globalization is the intensification and expansion of political interrelations around the globe and changing the role of global governance and political systems. After the fall of Soviet Union, Communism fell down and the east-west conflict was resolved. Each and every world country turned into competitive economic market.
Through globalization the charm of liberal democracy is being reached to the mass people over the world as well as Bangladesh. So, the expansion of globalization has a major roll to expand liberal democracy in the world. The wave of globalization has also touched our Bangladesh indeeps politics. We can learn the democratic norms and values now. A very positive side of globalization is it makes people aware about their own rights, their facilities etc.
In case of any violation of people's right or security they can raise their voice like gono jagoron moncho, quotas reform movement, road-safety protests etc. We also can learn how a country developed their selves. We can learn about the lacking of that part. We can now learn anything and go anywhere within shortest possible time. This situation increases social security. The new role of model of liberal democracy is practicing in our country like Singapore, Canada, China, Thailand and Malaysia etc.
Cultural: Cultural globalization is the intensification and expansion of cultural flows across the globe. It includes the development of a global culture. Changing indigenous culture by foreign culture.This process also helps to break down prejudice and broaden outlook and then develops international brotherhood.
We can easily learn about deferent caste, creed, and type of people all over the world by the assistance of google, facebook, youtube etc. Globalization languages adopted in our country like USA, Britain, Canada, Chinese, France, Japanese, Korean, Arabic, Australian, Indian etc.
Developed Recreation and Consumerism: Globalization and Information technology have made the globe smaller to know about the facilities of the developed world because of this people are being interested to know and consume those facilities and services.By keeping the hand of globalization thesense of consumerism is being developed in Bangladesh.
The role of the media in shaping identities and desires and food diversification like KFC, BFC, Pizza Hut, MacDonald, Shanghai Food, Masala Dosa etc. The Pan Pacific, and the Intercontinental which are international chains.Huge number indigenous and foreign electronic media and TV channel contribute recreation in Bangladesh. Recent cultural phenomenon of BD is badly influence by the Indian TV culture due to globalization.
Impact on Sports-Cricket:
Sports play an important role in the development of international relationship. Many international sporting events like cricket are organized from time to time.These events are telecast worldwideby satellite and people all over the world watch them live. The sports venue becomes a meeting place of people from different countries.
They come closer to each other, sharing views, opinions and friendship.Bangladesh is also the world first beneficiary of this opportunity. Due to the consecutive success in recent cricket over the globe, Bangladesh now is well known to almost all. Impact on Education: Like other developing countries of the world, Bangladesh has identified education as the key to prosperity and progress. During the HPM Sheikh Hasina's tenure, Government and Donor countries are contributing to the progress of our literacy rate and overall education. Various international organizations have responded dramatically with their generous aid in education sector. Many
non-formal schools are being run. Meritorious students are availing themselves of the foreign study scholarship.Expanded rate of female education in Bangladesh is another example of the impact of globalization. Different type of books is available in media. It would like to say that; the flow of globalization also touches Education of Bangladesh.
Development of Industrialization: Industrialization is another significant result of globalization. The industrial technology, Capital, market, all of these is expanded in recent in Bangladesh, because of globalization. Bangladesh is pursued export-oriented industrialization, with its key export sectors include textiles, shipbuilding, fish and seafood, jute and leather goods etc.
It has also developed self-sufficient industries in pharmaceuticals, steel and food processing also. Bangladesh is emerging now as a digital device manufacturing country the global technological sector. One of the technology conglomerates of the country has already started assembling gadgets and some other companies are soon to follow. Apart from the local brands, some global brands are also considering establishing mobile handset plants here.
Capacity building and expansion of capital: This is the era of capitalism. To expand capitalism worldwide the theory of globalization is very much fruitful. To be developed all the developing countries are trying to be globalized by opening their markets for investments. Globalization, industrialization, free trade-all these things are encouraging market competition.
It results the spreading out and the development of service sector, technology, capacity building etc. Bangladesh has been trying to bring structural changes in her economy-increasingly expanding the contributions of industries in GDP, trade liberalization, boosting up exports, exporting more manpower in abroad, encouraging them in sending remittances, and alluring the investors (both foreign and non-residents of Bangladesh) for DFI. Recently, Bangladesh has taken efforts to diversify her trade, find out new markets for her exports-both traditional and non-traditional items, even vegetables to many countries including neighboring countries.
Like the developing countries of the world our country is getting benefit out of border-less market. We are running like RMG, Medicine etc. Now Bangladesh is morecapable then the previous period of globalization in the sectors. Our GDP has remarkable increased. Garment industries are considered the foreign exchange earner. In terms of investment, employment and exports, the functioning EPZs(Export Processing Zones) have been greatly successful.
Bangladesh with its expanding sway of exports and imports is no exception to that. The regional connectivity, which is under active consideration of various adjoining countries and agreements have already been made, and in some case operations are underway for bringing big opportunities for Bangladeshi products' market in those countries. There are scopes of win-win gains of the involved countries in their dealings.
Expansion of technology: In this era of globalization through the movement of capital the technologies are also being expanded. Most of the technologies are invented in the developed western countries like Germany, the USA, The UK, France, etc. But all the countries of the globe more or less are enjoying the blessings of these technologies due to globalization.
Present government promotes the digital Bangladesh scheme e.g. vision 2021, as part of its efforts to develop the country's growing information technology sector. It may be mention here that, eminent economist, former governor of Bangladesh Bank,Professor Dr. Atiur Rahman sir is credited for instituting digital changes in the banking industry of Bangladesh that greatly increased the foreign exchange reserves of the country and brought massive automation and digitization in the banking sector of Bangladesh.
Include the creation of the National Payment Switch of Bangladesh; introducing automated check clearing for banks in Bangladesh using local currency cheques; starting mobile banking, which lets people carry out banking transactions via SMS (text messages) or apps; establishing the Bangladesh Electronic Funds Transfer Network (BEFTN), which is a system of transferring money from one bank account directly to another bank without paper money ever changing hands; and installing the Bangladesh Automated Clearing House (BACH), which permits rapid electronic inter-bank transfers within the country with automatic adjustment of accounts.
Today communication and information technology is undividable part of Bangladesh. Globalization is now largely based on a strong technological foundation in Bangladesh. Worldwide money transfer and transaction of businesses have now become a matter of touching on a mobile screen. We can now buy and sell goods through the mobilescreen; this is the result of globalization. Sometimes technology becomes harmful for mankind and people suffer badly on global pillage. Hacking, now a days. A dangerous phenomenon in developing countries like Bangladesh.
Globalization has leaded a far-reaching consequence on many aspects of life in Bangladesh. As a developing country with vulnerable geopolitical locations once,weak economies are now looking at globalization to strengthen to fight any perceived threats. The increasing role played by the western dominated institutions such as, the WB, IMF, and WTO in setting the rules under which globalization is played, has placed developing countries in a much disadvantageous position vis-à-vis the developed countries. It is the nature of developed countries to establish high control and authority over developing country.
So, through understanding of the effect of globalization is needed to use its advantages to improve Bangladeshpolitico-culture and economy. This may also help Bangladesh maintain a sustained growth in the face of likely economic peril. Last, we can say Globalization has also some disadvantages. Therefore if we want to reap the benefits of globalization process and also save Bangladesh from its troubles, we must keep our eyes open with governance lenses over the recent globe and act wisely.
The writer is a Researcher, Faculty of Social Science, University of Dhaka and working as Evaluation & Documentation Officer at BIBM (Bangladesh Institute of Bank Management, Mirpur, Dhaka::He can be reached at: firstname.lastname@example.org
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