Mushtaq A. Kaw


Abstract:Globalisation defines a trend of transformation from local and regional to the globalphenomenon, and characterizes the coexistence of a relationship based on surplus, trade,market and capital. Such a trend was, however, stalled by unlimited state control,excessive taxes and traditional means of transportation and communication duringmedieval times1 besides two great wars and their corresponding anti-imperial „nationalist‟interlude in the 20th century. These unhealthy factors contributed to plummeting theforeign trade and capital investment in the developed and the developing countries.Nonetheless, the said trend picked up as a sequence of unprecedented technologicaladvancement and the pro-activism of several leading trans-national financialcorporation‟s (hereafter TNFCs) but suffered again in 1970s as a sequence of low returnsof TNFCs. To tide over the crisis, the TNFCs mandated privatization of state enterprise,liberalization of imports, equitable resource sharing, soft borders, hassle free trade,regional and global infrastructural development, etc. A unified and flexible economicorder based on the integration of national, regional (pan European, pan-Asian, pan-Arabicand pan-American) and world economies towards laissez faire and neo-liberalism, wasthe natural concomitant of above initiative of the TNFCs.2 Consequently, indicators ofsocio-economic development progressed to an appreciable extent despite the belief of the“Cultural Imperialists” that “Globalisation is the reincarnation of the Westernimperialism/colonialism”; hence, aimed at benefitting the developed rather than thedeveloping countries across the world.3 The Central Asian space was no exception toabove global phenomenon. Though the region registered unprecedented progress, it wasjuxtaposed subject to several complications. In fact, the present article seeks to examinethe costs and benefits of globalisation to the Central Asian countries, and it is based onboth historical and empirical studies.

Keywords:Globalisation, Central Asian Republics, Japan, US, India, Korea, China, Kyrgyzstan,Tajikistan, Uzbekistan, Kazakhstan, Turkmenistan, WTO, UNDP, ADB, Churchill, Marx,Huntington.

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