TWN Global Economy Series No. 3

An Introduction to Globalisation and its Impacts

by Bhagrath Lal Das
ISBN: 983-9747-72-X
Year Published: 2001
No. of pages: 40
Price: US$8.00 (inclusive of postage costs by air mail)

Third World Network's Global Economy Series is a series of papers published by TWN on current developments and trends in the global economy, such as those involving output, income, finance and investment. It complements the TWN Trade and Development Series which focuses on multilateral trade issues. It aims to generate discussion on and contribute to development policies oriented towards fulfilling human needs, social equity and environmental sustainability.

About the book:

Globalisation has an impact on the lives of people in all sectors of society, and most adversely on poorer and more vulnerable social groups, particularly in developing countries. Thus, it is urgent for these groups and countries to develop a critical awareness and assessment of the nature and process of globalisation and its effects on society.

This paper begins by examining the main features of the current trend of globalisation. It analyses financial and trade liberalisation, the operations of transnational corporations, and the globalisation of policy-making by multilateral institutions such as the World Trade Organisation and the International Monetary Fund, and considers the implications of these global processes on development and poverty.

Finally, the author recommends concrete policy options that governments can take to ensure that globalisation works to the benefit of the world's developing nations, which must ultimately act together in forging a globalisation that works for all - one that is pro-people, pro-poor and pro-development.

About the author:

Bhagirath Lal Das was formerly India's Ambassador and Permanent Representative to the General Agreement on Tariffs and Trade (GATT) forum. He has also served as Director of International Trade Programmes at the United Nations Conference on Trade and Development (UNCTAD). He is currently a consultant and advisor to several inter-governmental and non-governmental organisations.


1. Introduction
Main features
Underlying assumptions

2. Sources of pressure for globalisation

3. Role of international institutions
IMF and World Bank
NGOs as allies

4. Main implications of globalisation
Trade in goods
Import of services
Flow of capital
Possibility of financial chaos

5. Direct effects on development and poverty
Globalisation constraining competition
Double standards in major developed countries

6. What should be done
Entry and operation of TNCs
Movement of capital
Area of trade
Acting together