Abstract:
Globalization has been seen by both its promoters and detractors primarily as an expansion of global capital and money and commodity markets across national and regional borders, driving both capitalized and capital poor economics towards consumer-oriented production whose backward and forward linkages are determined- indeed manipulated- by developed economics of the West. In the process, traditional modes of production of weaker economics are neglected, which, in the end, lose out to high value production processes and products backed up by sophisticated technology and financial instruments. The deceptive investment portfolios from the west, described rather quizzically as "footloose capital," gain control of weaker economics and threaten to withdraw in the event of a government taking measures to protect its domestic business.
