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The two-phased process of globalisation in Pakistan was also true for India to quite an
extent, especially in terms of the 'borrowing of loans,' from the financial agencies, for the
rehabilitation of its liberalised economy. However, Pakistan, unlike India, does not have a
flourishing stock exchange, or any portfolio investment of foreign capital. This has made it difficult
for Pakistan to be more open and liberalised than India, in terms of investment. Moreover,
Pakistan's exports are dominated by textiles and the lucrative cotton cultivation has led to the
concentration of landholdings and to the introduction of new technologies in agriculture, both
resulting in perceptible inequalities.
Globalization refers to the absence of the trade walls that
every country has. PAKISTAN is considered to be the fourth
largest economy in South Asia hit by the impact of
globalization. Not only does it have its economical affects but
it also alter and influence the mindset, psychology of the
people gradually.
Trade liberalization might lead to more employment and
improve the standard of living in Pakistan but this will
happen only when the power blocks have mutual trust and
respect for Pakistan’s interest (no colonialist designs)
CONS