Answer to Question #241000 in History for Hope

Question

Is globalization positive or negative for development of the global south states?

Answer 1

Globalization is positive for development of global south states.

In order for developing countries to avoid bleak prospects in the 21st century, they must be given the space and opportunity to strengthen their economies and to develop their social infrastructure, while having environmentally sound practices. For this to happen, there has to be a much more favourable international environment, starting with the democratization of international relations and institutions, so that the South can have an active role in decision-making. The developing countries should have more rights of participation in decision-making processes in the IMF, World Bank and WTO, which should also be made more accountable to the public and to the local and poor communities. These institutions have been under the control of the governments of developed countries due to the systems of decision-making and governance. There has long been a perception that as a result of such dominance, the three institutions have tended to have policies or rules that are biased towards the interests of the developed countries, while developing countries have either benefited less or have also suffered from the wrong policies and biased rules. There is thus a need to reform the decision-making processes so as to give developing countries their right to adequate participation; and to review and where needed to change the content of policies and rules. so that they reflect the interests of developing countries that form the majority of the membership