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The International Monetary Fund (IMF), World Bank
(WB) and US Treasury view globalization of economies as
a mathematical and scientific problem and not as a sociocultural phenomenon. To these institutions it is monetarist
economics that should govern economic globalization.
This study analyzes Pakistan’s economy in the context of
globalization by using the yardsticks of trade in general
and Foreign Direct Investment (FDI) in particular. The
inferences drawn are further reinforced by looking at
stock market, external debt and liabilities (EDL), poverty,
unemployment, inflation etc. Globalization is leading to
growth in China but for South Asia, South East Asia and
for Africa, it is perpetuation of poverty, hunger, disease
and inequality. Revision of Millennium Development
Goals (MDG) is a clear indication of that. Apart from
successes in some areas, globalization has failed to bring
positive change in the lives of millions of Pakistanis living
below poverty line. It has rather added to their insecurities
and vulnerabilities.
Khalil-ur-Rehman, Dr. Amanat Ali Jalbani. (2004) Globalization and Pakistan’s Economy , Journal of Independent Studies and Research-Management, Social Sciences and Economics, Volume-02, Issue-2.
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