HOW TO SECURE GLOBALIZATION PROCESS

Slobodan  Đorđić

Authors

Slobodan Đorđić Faculty of Economics, University of Banja Luka

Keywords:

globalization, market fundamentalism, capital movement

Abstract

In this article it is firstly pointing out to the fast development of the world economy and even faster exchange rate of goods and services. After that the problem of economic differentiation between developed and underdeveloped countries are identified with its widening gap.

The flows of globalization are interpreted by thanking to reducing customs barriers and and even freer movement of production factors, particularly capital.

Here speculative flows of capital are remarked as factor that can jeopardize national sovereignty.

As for international financial institutions they are supporting the mentioned trends.

All these events threaten to undermine the whole process of globalization.

The solution for these problems could theoretically be found in some kind of World government and its governing and managing many trends in the world including the process of globalization. Regretfully for the time being it looks like an illusion!

At least the underdeveloped countries should be more involved in the process of defining economic policy relating to them.

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