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All India UPSC Essay Competition
Nayana Nandi
All India Rank – 5th
Prize: Rs. 1000 & CL Course worth Rs. 10k.
- UPSC attempt given before: No
- Pre-Qualified- No
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- Final Selected- No
- Graduation – on going
- College: G. S. Lohia Girl's College, Tinsukia, Assam
Globalization & its impact on Democracy
GLOBALIZATION AND ITS IMPACT ON DEMOCRACY Globalization is about the exchange of information, ideas, technology as well as resources in cross border nations. Although the concept of globalization is quite complex but because of the benefits derived in the economic or political front makes it quite popular. The influencing power of globalization can be felt in the mostly in the political regime of the countries. Various researches over the period of time has shown how globalization has helped in the spread of a democratic form of government far and wide. The ideals of democracy can be easily preached in autocratic countries because of flow of information across the nations. The advantages obtained from globalization are too many and the country which does not adapt itself to this changing global world becomes isolated from the other countries. Infact North Korea can be said as one such country which strongly believes in a autocratic government and that is why it has less connections with the other nations of the world. The impact of globalization on a democratic country can be easily seen from economic opportunities it brings along with it. Globalization helps a democratic country to attract foreign capital, information, technology and resources at relatively lower cost thereby building opportunities for employment as well as boosting economic growth. Infact India is considered as on of the largest democratic country. And we all know that remarkable development in the country is observed right after it decided to adopt the Liberalization Policies of 1991 which mainly focused on Globalization. Slowly and steadily democracy is becoming a better alternative for autocratic government. And the ideals of democracy can be preached far and wide only with the help of a global network. Over the time globalization has helped many countries to overthrow the autocratic regimes and embrace a democratic form of government. Iraq and several countries of Sub saharan Africa has benefited from globalization and was able to choose a democratic form of government. For international business globalization is a must. This increases competition and helps in proper use of the resources. However there are also scholars who believe that globalization is a threat to democracy. There are various anti-globalist theories that has long believed how globalization has undermined the powers of democracy and resulted in a hollow democratic government which appears to be amazing when seen from a distant but in reality it loses its powers to wealthy and power hungry individuals of the nation. Most of the democratic government has this fascination of attracting global investors and increasing foreign capital which not only results in huge international debt but also slowly the power of decision making of the country goes in the hands of foreign nations. Rich investors invest in other countries with the only aim of earning profits. They tend to sway the decision of the political leaders in their favour with the help of their wealth and power. This only results in disadvantages for the country's people in the long run. Also one of the most important fact about the harmful impact of globalization is that increases MNCs in the country and thereby reducing the chances of growth of small companies. When the domestic companies are unable to survive in the market then economy starts going downhill. Slowly the country becomes completely dependent on the foreign companies which has an adverse impact on the economic growth. Thus we can say that globalization has both some positive and negative impact on democracy. Globalization is a great tool in preach ideals of a democratic form of government all over the world. It brings with it the benefits of economic growth. But at the same time it is also a threat to democracy. It also leads to political tension between two countries. it doesn't allow small business to function on an international scale.