What is it about?

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.

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Why is it important?

To understand that economic globalisation is a deceptive game as it mostly benefits the developed nations.

Perspectives

Developing countries must exercise the practice of economic globalisation both cautiously and selectively as all aspects of economic globalisation are not helpful for them.

Dr MD W MURAD
University of South Australia

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This page is a summary of: The Deceptive Game of Today's Capitalist Globalisation Evidence from Malaysia's Experience, European Journal of East Asian Studies, January 2011, Brill, DOI: 10.1163/156805811x616101.
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