This claim argues that the vital assets of market globalism are the

This claim argues that the vital assets of market

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This claim argues that the vital assets of market globalism are the liberalization and integration of worldwide markets and the lessening of government intervention in the national and global economies. Thus, privatization, free trade, and unconstrained capital flows are seen as the paramount ways for attaining personal liberty and material advancement in the world. Claim 2: Globalization is Inevitable and Irreversible This claim contends that globalization promotes the expansion of unalterable market forces motivated by technological improvements that facilitate the unavoidable worldwide integration of state economies. Nation-states, political parties, and civil society organizations have no option but to adapt to the inevitable forces of globalization. This neo-liberal depiction of globalization is synonymous to a natural force that forces people to adjust to these market forces if they want to survive and succeed. These neo-liberal rules are over and above state politics; thus, they call for the abolition of all forms of state control. Claim 3: Nobody is in Charge of Globalization This argues that globalization is manifested through a “self-regulating market”. According to Hormats (1998), what is attractive with globalization is that nobody is in control of the process. Thus, it is not regulated by any individual, any nation-state, or any organization. In addition, Friedman (1999) contends that the international market is an Electronic Herd of anonymous stock, bond and money traders and transnational foreign investors, integrated by global screens and networks. Claim 4: Globalization Benefits Everyone (... in the Long Run) The benefits for all relate to material aspects such as “economic growth” and “prosperity”. These benefits were according to the participating heads of state of the 1996 G-7 Summit in Lyons, France, consisting of the world’s seven most influential highly-developed countries that issued a joint Economic Communique (1996) that exemplified the implications of this claim. These affirmative benefits include an unmatched increase in investment and trade; the incorporation to global trade of the globe’s s most densely inhabited regions; more chances for the
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less developed countries (LDCs) to develop their standards of living; faster dissemination of information; technological innovation; and the rise of skilled jobs.
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