Defining Globalization

Paper Summary:

This paper argues that globalization is neo-colonialism or a politically correct term for imperialism. The institutions of globalization and its engines, MNCs, and international financial institutes, do promote the oppression and exploitation of the South by the North. However, the paper argues that these countries ultimately participated in their own oppression. They signed the trade treaties, and they participated in the creation of the WTO. To be realistic, it is important to realize that globalization, at least for now, is here to stay. The paper shows, therefore, that it is up to the Third World countries to find the ways and means by which to regain sovereignty or to rebel against their political economic oppression.

From the Paper:

"Even though the exploitative nature of MNC operations appears quite clear, not all political economists accept that MNCs do have such power and authority over host economies so as to function as engines of neo-imperialism. Robert Gilpin, for example, argues the issue of MNCs from a statist point of view, claiming that while they may be extremely powerful, they are ultimately less powerful than political systems. In fact, Gilpin states that multinational corporations are shaped by, and do not shape, state politics. This may have been true for a limited time in the sense that it was the political and economic climate of certain countries that gave birth to multinational corporations but, with the growing economic power of MNCs, the relationship changed. It is inarguable that MNCs abuse host economies and exploit the local people and natural resources due to the fact that they have become more powerful than many of the countries they operate in."

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