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November 9, 2004
The first session was devoted to discussing the global economy and trade.
Globalization is not a new concept for most countries. People around the world have been trading with one another long before the industrial revolution. However, due to the rapid rise of technology, globalization has increased dramatically in recent years and has become a global trend with winners and losers. From an economic standpoint, globalization refers to the liberalization of the world economy which free trade, foreign investments, competitive advantage theory, and job outsourcing are encouraged while putting off economic barriers and subsidies.
Some people argue that globalization is unfortunate for the developing world and compare it to a colonial system dictating and trapping the developing countries' economy while enriching only a minority of the world population mostly in developed countries. On the other hand, others believe that globalization promotes enormous growth in production and income of a country, even developing. Good or bad, globalization depends on its real effects on the socio-economy of both, developed and developing countries.
The objective of the first session of this videoconference series was to discuss the realities of globalization from a socio-economic perspective and to better understand the meaning of globalization for both developing and developed countries.
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