2. OutlineOutline
• What we understand by globalization
• Its Wheels
• Its Importance
• Counter-Effects
• Impact on Poverty
• Impact on Unemployment
• Pakistan’s Experience
3. What is Globalization?What is Globalization?
• A Pakistani national, receives a Master's degree in
France, will work for an American registered
company, which is based in China and started by
an Italian....
• This is called GLOBALIZATION!
5. Has simplyHas simply
accelerated andaccelerated and
gained complexgained complex
characteristics incharacteristics in
recent decades.recent decades.
Globalization is not a new
phenomenon; early
civilizations in the
Mediterranean, Meddle
East, Asia, Africa, and
Europe have all contributed
to the growth of cross-
border trade over time.
6. Importance ofImportance of
GLOBALIZATION!GLOBALIZATION!
Law of Competitive Advantage...
(Because of Trade Liberalization)
A primary economic objective of a nation is to
generate a high and increasing standard of living
for its people.
Int. trade allows a nation to increase its productivity
by eliminating the need to produce all goods and
services within the nation itself.
13. Pakistan has to make some hard policy choices. Do wePakistan has to make some hard policy choices. Do we
seize the opportunities provided byseize the opportunities provided by
globalization for the larger benefit of our economicglobalization for the larger benefit of our economic
growth and poverty reduction or we remain insulatedgrowth and poverty reduction or we remain insulated
fromfrom
these forces and become marginalized in the process.these forces and become marginalized in the process.
Except Afghanistan, Cuba, North Korea, Iraq andExcept Afghanistan, Cuba, North Korea, Iraq and
Myanmar there are very few countries in the worldMyanmar there are very few countries in the world
which have made a choice in favour of insulation andwhich have made a choice in favour of insulation and
deliberate withdrawal. Even North Korea is presentlydeliberate withdrawal. Even North Korea is presently
engaged in an active dialogue with South Korea forengaged in an active dialogue with South Korea for
possible movement towards integration.possible movement towards integration.
