Monday, January 6, 2020

Globalization Effect on Pakistan - 1531 Words

Affect of Globalization on Pakistan The word Globalization refers to â€Å"the growing integration of economies and societies around the world† (World Bank 2010). There has been an increasing amount of connection between various economies and one of the greatest challenges we face is to make this connection a positive one. Globalization certainly has the greatest influence on developing nations around the world. Countries such as India, China and Russia have been positively affected by globalization since they are able to trade goods in which they have a comparative advantage. For some other nations, globalization has not had such a positive influence. In certain parts of the world, it has led to a worsening of the economy, exploitation of†¦show more content†¦In 2006, the Gini Co-efficient which indicates the degree of equality on a scale of 0 to 1, was calculated to be at a level of 0.68 in the country (Bukhari Haq 2008). This indicates that a high level of inequality exists in the country. Globaliza tion places importance on industrialization and trade. People who work in these sectors have a higher income than those who don’t. However, the difference in the levels on income between lower/middle class and upper class is vast. The rich are getting richer and the poor are doing worse in the country. One of the major obstacles is the fact that a majority of the women in Pakistan either do not work or are the lowest paid and due to this the income levels vary as well. For example, two households with the same number of family members where one is predominantly female will have a lower income than one that is predominantly male. Since the workforce is and has always been male dominated, the introduction of western values has further increased the gender misbalance. A fear of women losing all cultural values and becoming too westernized has prevented women from joining the workforce, thus increasing unemployment, poverty rates and varied income levels.Show MoreRelatedGlobaliza tion And Its Impact On Pakistan s Economy978 Words   |  4 Pages SYNOPSIS Topic: Globalization and its impact on Pakistan’s economy Submitted to: Miss Ayesha Submitted by: Syeda Fatima Nadir Semester: 6 Major: Economics Introduction: Globalisation is the processRead MoreGlobalization1305 Words   |  6 Pagesï » ¿Globalization, by definition, is the integration and democratization of the world s culture, economy, and infrastructure through transnational investment, rapid spread of communication and information technologies, and the impacts of free-market on local, regional and national economies. The golden words of late Dr. Mahbub ul Haq provides the true vision: Globalization is no longer an option, it is a fact. 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