The perils of globalization

Abstract

This paper examines the impact of globalization on the economy and politics of the smaller states. In the process of globalization, the strong states try to gain economic advantages and to dominate the market of the weak states. In the context of open market, the international corporations are using political pressures to exploit the resources of the states and to eliminate the smaller national competitors. The direct effect of anti-competitive and abusive business practices used by international corporations is the poverty of population, corruption of officials and the emergence of radical political movements. As a result of globalization the smaller states are losing their cultural identity. All those perverse effects must be minimized and reversed if we want a healthy and harmonious global society.