Globalization and Pakistan’s Society and Economy | Daily Writeups | Opinions
The article is written by Safina Naz, a student of Sir Syed Kazim Ali.
Outline
1- Introduction
2- What are the positive aspects of globalization for Pakistan?
For society
- ✓Alleviating poverty and increasing employment opportunities
- Evidence: Taking an instance, Yango, an international company with digital mobility services, has invested in Pakistan and launched its services in the country.
- ✓Rapidly digitizing all domains
- Evidence: The e-learning trend has gained prominence in the country as the rest of the world is also shifting towards e-learning.
For the economy
- ✓Providing a conducive environment for foreign investment
- Evidence: According to the State Bank of Pakistan, an upward trajectory of foreign direct investment was observed in 2015.
- ✓Providing room for creativity in the economic sector in the form of freelancing and online trade
- Evidence: According to the State Bank of Pakistan, freelancers generated foreign remittances of 397.3 million dollars during the fiscal year 2021-2022.
3- What are the negative aspects of globalization for Pakistan?
For society
- ✓Increasing Westernization
- Evidence: Multinational companies, McDonald’s, KFC, and Tim Horton’s, have introduced their food items, leading to the replacement of traditional food items, Biryani and Chicken Karahi, with Western food items, Burger and Pizza.
- ✓Increasing the risk of spread of diseases
- Evidence: The recent outbreak of COVID-19, initially started in Wuhan, China, is a glaring example of when the virus crossed territorial boundaries and claimed the lives of thousands in Pakistan.
For the economy
- ✓Increasing brain drain, threatening the economic sector of the country
- Evidence: According to the Bureau of Emigration and Overseas and Employment, an alarming number of 450,000 Pakistani citizens has left Pakistan during the first half of 2023.
- ✓Making the local economy of the country more vulnerable
- Evidence: To elaborate, international clothing brands are rapidly extending their businesses in Pakistan and giving tough competition to local brands.
4- Critical Analysis
5- Conclusion
Answer to the Question
Introduction
Globalization, the shortening of distances and the closeness of things, is a transformative phenomenon that has altered the world into a global village. It has roots in ancient civilizations when people depended on one another for essential commodities. However, in the contemporary era, globalization covers a broad spectrum, including cultural exchange, multinational business with offices, and supply chains stretching around the globe. Developed and developing countries are on the same page and benefit from globalization. Speaking of developing countries, globalization has proved to be a blessing in disguise for their economies as it has opened the doors of multiple opportunities for them. Pakistan is sailing the same boat, benefiting from globalization. Globalization has entirely changed the dynamics of Pakistan’s society and economic sector. It has revolutionized society by increasing employment opportunities and distributing resources among the masses. Similarly, the economic sector has grown exponentially due to increasing foreign investment in the country. However, the negative impacts of globalization cannot be overlooked as society faces cultural homogenization. Similarly, the brain drain poses a grave threat to the economic sector as skilled and competitive labour continuously moves towards foreign countries. However, the situation can be rosy if Pakistan follows a balanced approach and fights the devil of the odds of globalization. This question elaborates on the pros and cons of globalization for Pakistan’s society and economy.
What are the positive aspects of globalization for Pakistan?
For society
- Alleviating poverty and increasing employment opportunities
Globalization carries multiple social and economic positives for Pakistan. Heading towards the positive impacts on society, globalization has given Pakistan a great opportunity to reduce poverty. There is a rapid increase in the creation of jobs due to increased foreign investment of multinational companies in Pakistan. For instance, Yango, an international company with digital mobility services, has invested in Pakistan and launched its services in the country. Yango has provided jobs to thousands of unemployed people, opening the doors for alleviating poverty in the country. The credit for the investment of multinational companies goes to globalization as it has paved the way for companies to operate in Pakistan and provide employment to millions of unemployed people in the country. Therefore, globalization has proved to be a ray of hope for the nation grappling with poverty and unemployment.
- Rapidly digitizing all domains.
Moreover, due to globalization, Pakistan is now standing with all other nations and moving towards digitization in all domains of life. For example, the e-learning trend has gained prominence in the country as the rest of the world is also shifting towards e-learning. Globalization has phase-shifted the old education, health, and business methods into modern, digital methods. Similarly, the cultural exchange programs, a product of globalization, have played a significant role in promoting cultural diversity among people as it is evident that Nusrat Fateh Ali Khan became a legend across the borders, and the credit for his popularity goes to globalization. Therefore, globalization has positively played its role in uplifting the people at the social level.
For the economy
- Providing a conducive environment for foreign investment
Moving towards the true essence of globalization, economy, globalization in Pakistan has revolutionized the economic sector; booming economic growth in the country is attributed to globalization. Increasing foreign direct investment navigates the positive effect of globalization on the economic sector. According to the State Bank of Pakistan, “An upward trajectory of foreign direct investment was observed in 2015.” This upward trajectory of foreign direct investment has resulted in financing infrastructure projects and expanding industrial capacity, aiming at improving the country’s economic growth. Globalization has thus changed the economic dynamics by increasing foreign investment.
- Providing room for creativity in the economic sector in the form of freelancing and online trade
Likewise, freelancing and online job opportunities have provided a source of revenue generation as a large proportion of youth is working from home country, Pakistan. Eventually, it has decreased travel costs and provided an exceptional source for overcoming the country’s economic turmoil. According to the State Bank of Pakistan, freelancers generated foreign remittances of 397.3 million dollars during the fiscal year 2021-2022. The evidence makes it clear that globalization has boosted economic growth by providing job opportunities from across the globe to people residing in Pakistan.
What are the negatives of globalization for Pakistan?
For society
- Increasing Westernization
Globalization has many merits for Pakistan; however, the demerits of globalization cannot be ignored. It has changed society in various aspects, such as changing family trends, replacing traditional cuisine with Western food items, and changing fashion trends in the country, ultimately amalgamating the true soul of Pakistan’s culture. For example, multinational companies McDonald’s, KFC, and Tim Horton’s introduced their food items, replacing traditional food items, Biryani and chicken karahi, with Western food items, burgers, and pizzas. Moreover, the traditional drinks of the country have been replaced with cold drinks that are now used with every meal. Besides, Western culture has greatly influenced the dress code, and the responsibility again goes on the shoulders of globalization. Therefore, globalization has made the equation of Pakistan’s society more enigmatic.
- Increasing the risk of spread of diseases
Another downside of globalization is the increasing risk of disease transmission. In the contemporary era, the world is interconnected, and distance is no longer a hitch in the way of connection as globalization has changed the world into a global village. However, at the same time, the risk of disease transmission has increased with booming globalization. The recent outbreak of COVID-19 initially started in Wuhan, China, is a glaring example of when the virus crossed the boundaries and claimed the lives of thousands in Pakistan. Therefore, the biggest threat that society has faced so far due to close ties with the entire world owing to globalization is the health crisis. The health sector is, therefore, at risk due to globalization.
For the economy
- Increasing brain drain, threatening the economic sector of the country
Speaking of the negatives of economic globalization, increasing opportunities for competitive youth across the globe has shifted a large chunk of Pakistani nationality holders into foreign countries. This continuous migration has led to a rapid brain drain in recent years. According to the Bureau of Emigration and Overseas and Employment, an alarming number of 450,000 Pakistani citizens has left Pakistan during the first half of 2023. Rapid movement of skilled and competitive citizens has deprived the economic sector of experts. Brain drain at this point is pushing the country’s economy towards dead ends. Therefore, it is right to say that globalization has exacerbated the economic turmoil in the country.
- Making the local economy of the country more vulnerable
Another grave consequence of globalization is threatening local businesses. With easy access to multinational products, the reliance on Pakistani products has tremendously decreased, discouraging local businesses from operating in the country. Multinational brands have increased the competition for local brands. To elaborate, international clothing brands are rapidly extending their business in Pakistan and giving tough competition to national brands. Along with this, the trend towards purchasing international products has drastically decreased the income of local brands, leading to a downward trajectory of the economy. Therefore, globalization has left Pakistan’s economic sector in a tough situation.
Critical Analysis
Looking through a critical lens, globalization has spread its wings in all spheres of life. It has served a mixed purpose for Pakistan, with both positive and negative effects. However, deep understanding makes it clear that globalization has more negative impacts on Pakistan. It badly influences the society of the country and homogenizes it with Western culture. On economic grounds, globalization is affecting the local market by increasing competition by multinational companies. Nonetheless, a balanced approach can help Pakistan get maximum benefit from globalization and reduce its negative impacts to a minimum level.
Conclusion
To sum up, globalization has resulted in the interconnectedness of the entire world. Developed and developing countries, including Pakistan, are equally under the influence of globalization. For Pakistan, globalization has brought a significant change in society and economy. The positives of globalization are, however, masked by the negatives, as the Westernization of society has negatively affected the cultural values of Pakistan. Similarly, local businesses face grave consequences owing to increased interest in multinational brands in the country, discouraging local investors and weakening the state’s economy. However, at this point, when the world is getting maximum benefits out of globalization, Pakistan needs to follow a pragmatic approach to utilize globalization for its good.
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