Arunav Kalita

All India Rank - 6th

Prize:CL Course worth Rs. 10k.

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• UPSC attempt given before: Yes,2019
• Pre-Qualified- No
• Main Qualified- No
• Final Selected- No
• Graduation - B.A.L.L.B,
• College: C.M.R University of legal studies,Bangalore

Globalization & its impact on Democracy

*Globalization has been defined as the process of rapid integration of countries and happenings through greater foreign trade and foreign investment .It is the process of international integration arising from the interchange of world views, products,ideas and other . * Being multi dimensional and global in nature ,this process has effects on the environment ,on culture,on political systems,on economic development and prosperity and on human physical well being in societies around the world. What are the factors aiding globalization? *Technology:- It has reduced the speed of communication manifolds. The phenomenon of social media in the recent world has made distance insignificant. The integration of technology in democratic as well as develop countries like India has transformed jobs and create more job opportunities for people. *LPG Reforms:- The 1991 reforms in india have led to greater economic liberalisation which has in turn increased India's interaction with the rest of the world *Faster Transportation:Improved transport making global travel easier. * Rise of WTO:The formation of WTO in 1994 led to reduction in tariffs and non tariff barriers across the world. It also led to the increase in the free trade agreements among various countries. *Improved mobility of Capital: In the past few decades there has been a general reduction in capital barriers , making it easier for capital to flow between different countries. * Rise of MNCs:- Multinational Corporation operating in different geographies have led to a diffusion of best practices. MNCs source resources from around the globe and sell their products in global markets leading to greater local interaction. Globalization and democracy:-Globalization was the offshoot of two systems - democracy and capitalism. * These ideas were transmitted across the world through free trade and increased inter country movement of capital and labour. * The idea that all countries should unequivocally move towards democracy underpinned with capitalism was packaged in policies commonly referred to as the "Washington Consensus "or " Neo liberalism". Impacts of globalization in democracy:- 1.Access to Goods and Services:-Globalization results in increased trade and standard of living .It heightens competition within the domestic product , capital and labour markets as well as among countries adopting different trade and investment strategies. * It has also resulted in national capital markets becoming increasingly integrated. 2.Vehicle of Social Justice::-Transnational companies investing in installing plants in other countries provide employment in those countries often getting them out of poverty. * The proponents say globalization represents free trade which promotes global economic growth , create jobs ,make companies more competitive and lower prices for consumers. 3.Increases cultural awareness:- By reducing cross border distances ; globalization has increased cross cultural understanding and sharing. * A neutral globalized society boosts up the rate at which people are exposed to the culture , attitudes and values of people in other countries. 4.Sharing technology and values:- It also provides poor democratic countries through infusion of foreign capital and technology with the chance to develop economically and by spreading prosperity. There are also negative impacts of globalization in democratic countries. Such as:- 1. Increasing inequality:- The general complaint about globalization is that it has made the rich richer while making the poor poorer. *The UN Development Program reports that the richest 20% of the world's population consume 85% of the world's resources while the rest 80% consume just 14%. 2. Failed to contribute towards desired gains:- 3.Contribute towards cultural Homogeneity:- Conclusion:- We cannot say that the impact of globalization has been totally positive or totally negative.