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The Global Economy Preface

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Published: Wednesday, 20 June 2018 11:49

Written by Super User

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Globalization has become a fact of life in the contemporary world. With the great strides made in scientific and technological revolution unprecedented changes have taken place in communication and media. With these developments no country can remain in isolation, closing free flow of ideas and views, which shapes future humankind.

When balancing between the positive and negative aspects of globalization, no doubt, it has adverse effect owing to the enormous privileges the developed countries hold in the present world. In such a back ground what is required is to find ways and means to drive globalization process in a positive direction for the betterment of the human needs of the South. Dr. James A Harris' book on "The Global Economy, Worldwide Strategic Alliances, Global Market, Global Management and Global Priorities" tries to examine these possibilities. The task before the South is to enhance closer cooperation among themselves in order to form a strong bulwark to resist the negative aspects and turn it for positive direction.

The Non-Aligned Movement, the Group of 77 and international peoples organizations such as AAPSO need to redouble their efforts in this direction. The South Centre has clearly enunciated this fact in their recent publication "Liberalization and Globalization, Drawing Conclusions for Development" as follows:

"Globalization can hardly merits its name if it does not involve greater economic links between developing countries, in contrast to increased interdependence between the North and South. Indeed, increasing economic links between developing countries can be of strategic importance. In addition to improving the development capacity and rates of growth in the South resulting from South-South links could partially compensate for the lack of dynamism emanating from the North. This process could be speeded up considerably if more purposeful efforts were to be made to promote South-South cooperation".

If South-South cooperation could be consolidated with more reliance on the role played by non-governmental organizations, it would be an effective vehicle to re-structure the Security Council of the United Nations to reflect the aspirations of the contemporary world including the changes of balance of forces in favour of the South who are more in need to extricate them from their backwardness, poverty, illiteracy, disease and above all providing a better life.

It is my belief that this publication will be a contribution in realizing those noble aims of the majority of human kind who still live in darkness. While saying this let me quote from the above South centre publication which stipulates these hopes and aspirations as follows:

"………… On the eve of the new Century and millennium, the world economy stands at an important cross- roads. The ending of the Cold War with the attendant possibility of reductions in armament expenditures, the expanding technological horizons, and particularly the new information and communications technology revolution, present great opportunities for the economic well - being of the people of the world. Liberalization and integration of the international economy provide further potential for raising global standards of living".


Nouri Abdul Razzak Hussain
Secretary – General
AAPSO