Globalization and its effects on developing countries Bangladesh
The globalization is the great process of operation a business in lots countries all over the world. Also, it is a way of interface and combination among the people, companies, and governments of different nations. Indeed, it is the free movement of capital, goods, and services around the world. Today the effect of globalization refers to the increasing interdependence of the world’s economy. It has creates economic dependency but also bring dramatic change on various countries. Marxist theories think that globalization is the latest stage of international capitalism.
Today there are many modern, develop and developing country are more or less within the fold of globalization. Bangladesh with its expanding influence of exports and imports is no exception to that. Globalization is increasingly becoming more and more popular, because most of the countries see their better fortune in this arrangement. Globalization covers a wide range of issues, economic, political, cultural, etc. There are scopes of win-win gains of the involved countries in their dealings. Since the issue of globalization is more a dream than reality, an effort was made to make the readers more aware about the issue, so that they take more interest in implementing the nobler ideas of globalization.
Although Bangladesh is a poor country but we are keep touching in globalization. Our developing is pretty influenced by globalization. It can be said that globalization means changing the technology and upgrade the system for the national development. An information system can be defined as a set of interrelated components that collect, process, store and distribute information to support decision making and control in an organization ,in addition to supporting decision making, coordination and control, information system may also help managers and analyze problem, visualize complex subject and create new product in Bangladesh . Information systems contain information about significant people, places, and things within the organization or in the environment surrounding it. Global survey identified five categories to measure in Bangladesh e-government progress such as emerging web presence, enhanced web presence, interactive web presence, transactional web presence & fully web presence. E-government or electronic government means the delivery of government services and information to the public. Bangladesh as a developing country with a good number of promising young people has proved its worth in the field of IT.
In Bangladesh, globalization has made more dynamic and progressive. It has brought change in economy, polity, culture, society and the people themselves. In the finance and banking sector, this change is more tremendous. The E-banking systems are electronic system where the transaction and relationship between the bank and client grow through electronic devices instead of paper document. Bangladesh has a long experience of carrying the privatization programs. The privatization program starts in mid 70s and is still continuing. Since then globalization has made privatized more than one thousand units & industry.
Recent study indicates that, globalization has created new world order, which effectively influences everything that comes in our mind. It makes a friendly relationship between industrial and developing countries. Before globalization, the border transaction was not secure enough and it was more cost effective. The boundary between domestic and international trade is much easier now because an expansion in the capacity and variety of cross border transactions in goods and services. Today, many developing countries have been change through the flow of economically, technology, trade and capital. It is not long ago, Bangladesh was economically poor and number of people ware illiterate but today it is looking at globalization to strengthen its economy to fight any perceived threats. Though the effect of globalization is overall great, but the reality is that globalization show it’s both positive and negative impacts on the economy of Bangladesh. A thorough understanding of the effect of globalization is needed to use its advantages to improve her economy. This may also help Bangladesh maintain a constant growth in the face of likely economic threat.
The existence of various NGOs in Bangladesh has made some significant differences, but the economic effect from them is not as great as it has been advertised. Indeed, the true economic situation of the country is revealed by its overall industrial position. Bangladesh had inherited some industries, which were immediately nationalized at independence.
The world community thought it had solution of Bangladesh. It poured billions of dollars of lotion for Bangladesh. It poured billions of dollars of economic aid to bolster the country’s economy. Many non-governmental organizations also came forward to help. Despite the tremendous influx of foreign aid, the country’s overall economy for the general people did not improve much even after some 35 years of its existence as an independent state. It is not to say that Bangladesh has not made any improvement. The country’s economy is said to have grown 5 per cent a year during the past decade. But the general public benefited little from it since most of the gain was forfeited by the privileged
In conclusion, Globalization is a well excepted term all over the world, but developed countries are the real beneficiaries of the concept, while the developing countries are in a confused situation to relate the term on their economic, social, political and personal life and it cannot helps to reduce the gap between haves and have not