The Globalization Project in Crisis

Topics: Millennium Development Goals, United Nations, Poverty Pages: 5 (1262 words) Published: November 29, 2013
The Milleonnial Reckonings

Purpose of Globalization project
The globalization project is about market integration, legitimacy management and resistance The Globalization Project in Crisis
While the globalization project still shapes development initiatives and policies, there are signs that its claim (and ability ) to represent the most rational development path is eroding. The arrival of structural adjustment policy in the global north in the twenty first century raises some key questions, which are: •What does structural adjustment means for northern development? •Does this differentiate between “developed and developing? •Does the crisis of globalization project signal the beginning of a transition towards a new project? Legitimacy Crisis: the development project started with the aim of poverty alleviation, and at the end of the twentieth (‘’development ‘’) century, it became clear that development was not working. It was facing a legitimacy crisis. This crisis brought about the United Nations coordinating a response in form of the Millennium Development Goals (2002) Aim of the Millennium Development Goal

Halving the world hunger by 2015
Halting the spread of HIV/AIDS
Addressing gender inequality
Providing universal primary education
Despite a general reduction in the proportion of the world’s population living in absolute poverty (the ‘’china effect’’), there has been a widely observed expansion of global inequalities between and within countries: The worlds rich benefited disproportionately from global growth over the 1990s and the per capita consumption of the poor increased at only half the average global rates. The legitimacy crisis is doubly expressed in the refusal, or inability, of the development agencies (MDGs) to address global inequality. Financial Crisis

Severe financial downturn in (2008) was a signal crisis of the era of ‘’financialization.’’ Financialization which means investment shifts into financial transactions (mergers, acquisitions, derivatives) and away from good and services production. Food Crises

Food riots cascading across the world in 2007 – 2008 (from Italy through Indonesia to Mexico and beyond) bore witness to rising basic food prices. As prices rose again, even further during 2010-2011, riots reappeared in Mozambique, India, Serbia, Pakistan, and Middle East North African (MENA) states. Food riots protest neoliberal project policies, insofar as they dismantle public capacity and deepen food dependency across the global south through liberalization of trade in foodstuffs. Indonesia spends 50 percent of their budget on food , Nigerians 73 percent, Vietnamese 65 percent. Ecological Crisis

Right now we are in the infancy of technological development with crude energy sources and chemical processes that have the potential to destroy the environment either as by products of our civilization or with their deliberate destructive use in another world war According to 2008 assessment of the environmental impact of economic globalization since 1961, the richest countries have generated 42 percent of global environmental degradation while paying only 3 percent of the resulting costs. Ecological crisis occur due because of the agricultural and industrial practises that fully depends on extractions from nature. Question

Is globalisation project over yet?
The Sustainability project:
The world faces a series of development challenges in an age of rising inequalities, diminishing industrial resources, and significantly compromised environments. The United Nations Human Development Report of 2011, sustainability and equity: A better future for all, centers on the so called “environmentalist’s paradox,” UN goal was to¬:- •Attempts to consolidate material gains of the globalization project •Attempts to recapture the social contract associated with Keynesian political-economy and energize public initiatives with a democratic, green agenda •Attempts to build...
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