Increased Economic, Cultural, Environmental, and Social. AN ECONOMIC PHENOMENON. A SOCIAL PHENOMENON. A CULTURAL PHENOMENON.

A transnational financial and political formations arising out of the mobility of capital, labor and information, with both homogenizing and differentiating tendencies.
(Jill Blackmore)

2001 first time 50% of worlds population live in cities and urban aggregates. 411 cities of over 1 million. Most urbanization in Asia.

Global connections The impacts of globalization, often through global TV, are everywhere, even in remote villages in developing countries. Here, in a small village in southwestern India, a rural family earns a few dollars a week by renting out viewing time on its globally linked television set. (Rob Crandall/www.robcrandall.com)

 Neo-liberalism as a global ideology Changing nature of the state Greater role for private sector Growing inequality Collapse of time

Space--speeding up of change

Impacts on both social and cultural homogenization Differentiation-permeability of borders

The centrality of migration to global

change--a world of slums

Global environmental changes

Increased exchange of goods, Increased the True values of goods More symbols New regimes of regulation (WTO, NFTA, etc.) World wide growth of market oriented societies

Changes in where work is

done and how it is done

Consumerism, learning

culture through consumption-the notion of a world of goods.

Technology issues
Rapid Growth
New Trends

Media: The duality of

control and information overload

 Hyper-urbanization and migration.

Urbanization problematic governance

Rapid urbanization compromises

governments capacity to generate state resources Rapid urbanization closely associated with growing inequality and absence of equity

Religion in a globalized world

Globalization make resistance Fundamentalism.

Localism,
Anti-globalism of civil society

 Managerialism as a new global

ideology
Increasing privatization of

education
Increase the social consequences of privatization of education

Can globalization be harnessed so that all citizens and countries benefit and not just the lucky few?

 Technological advances
Expansion of international commerce (exports and imports)

Rising importance of private capital flows (stock markets and multinational corporations)
Increasing travel and migration (international tourism and domestic diversity) Increased communication and interaction between peoples (through all sorts of media)

1. 1. Is globalization Westernization? Is it a threat to non-western societies? 2. What is the right question to ask about globalization and the poor?
3. What are the legitimate questions that anti-globalization protestors ask?

 We used an event study methodology

Pakistani companies had cross- border acquisitions during 2002-2006.

224 transactions: 127 companies from 33 industries. different

We used BSE-500 (represents nearly 93% of the total market capitalization on Karachi Stock Exchange Limited) as the market index for the calculations.