The Deceptive Game of Today's Capitalist Globalisation Evidence from Malaysia's Experience

Globalisation is the economic policy of the integration of national economies with the global economy on the basis of free market competition. It is a neoliberal prescription for industrialisation and growth of the emerging economies of the South, and a project of capital accumulation for the capita...

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Bibliographic Details
Published in:European journal of East Asian studies 2011-01, Vol.10 (2), p.169-180
Main Authors: Alam, Md. Mahmudul, Molla, Rafiqul Islam, Murad, Md. Wahid
Format: Article
Language:English
Subjects:
Capitalism
CAPITALIST GLOBALISATION
Developing countries
Economic development
ECONOMIC GLOBALISATION
Economic globalization
Economic liberalism
ECONOMIC NATIONALISM
FAIR MARKET
Free market economies
Globalization
INCOME CONVERGENCE
INDUSTRIAL COMPETITIVENESS
Industrialization
International economics
NEOLIBERALISM
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Summary:Globalisation is the economic policy of the integration of national economies with the global economy on the basis of free market competition. It is a neoliberal prescription for industrialisation and growth of the emerging economies of the South, and a project of capital accumulation for the capitalist North through a process of securing a disproportionate share of the benefits at the expense of the developing South. The content analysis and Malaysia's globalisation experience support the hypothesis that globalisation has great potential to contribute to the industrialisation and growth of emerging economies, while at the same time showing that the way it is practised indicates that it is a deceptive game of the North and cannot be entirely trusted to emancipate the developing economies. The paper suggests a policy of target-oriented 'inclusive globalisation' to ensure an equitable share of the benefits of specialisation and globalisation.
ISSN:1568-0584
1570-0615
DOI:10.1163/156805811X616101