Worldwide Globalization and its Impacts on Developing Countries: The Case of Indonesia

The emerging globalization has raised the economic integration among countries. Some view it as a beneficial process, which is a key to future world economic development and abo inevitable and irreversible. Others regard it with hostility and fear, believing that it increases inequality among nation...

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Bibliographic Details
Published in:Journal of global business issues 2009-07, Vol.3 (2), p.105
Main Author: Junarsin, Eddy
Format: Article
Language:English
Subjects:
Competitive advantage
Culture
Developing countries
Economic crisis
Economic growth
Economic indicators
GDP
Globalization
Gross Domestic Product
Human rights
Impact analysis
Income distribution
Inequality
Inflation rates
LDCs
Population
Power
Purchasing power parity
Studies
Trends
Unemployment
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Summary:The emerging globalization has raised the economic integration among countries. Some view it as a beneficial process, which is a key to future world economic development and abo inevitable and irreversible. Others regard it with hostility and fear, believing that it increases inequality among nations, threatens employment and living standards, and obstructs the social progress. Despite all of the controversy, globalization has clearly created many new opportunities and requires every nation to keep up the pace in order to stay competitive. It has abo allowed countries to develop partnerships and alliances throughout the world, which has become essential for success recently. Strategy designed and executed by Indonesia is highly dependent upon the scenario prevailing. In the progressive world scenario in which there are no major disruptions, surprises, or shocks, the country should utilize progressive strategy. Meanwhile, when the chaotic world scenario prevails, Indonesia has to implement defensive strategy, striving for survival and sacrificing improvement temporarily. On the other hand, if Indonesia experiences great momentum scenario, it can harness attacking strategy as basic requirements, such as economic performance and social stability, have been well maintained and enhanced such that the country will be able to continue expanding globally, focus on future-oriented economic and technological advancement, and promote creativity and innovation. [PUBLICATION ABSTRACT]
ISSN:1931-311X