Some observers argue that a rudimentary version of world culture is taking shape among certain individuals who share similar values, aspirations, or lifestyles. The result is a collection of elite groups whose unifying ideals transcend geographical limitations. One such cadre, according to political scientist Samuel Huntington in The Clash of Civilizations (1998), comprises an elite group of highly educated people who operate in the rarefied domains of international finance, media, and diplomacy. Named after the Swiss town that began hosting annual meetings of the World Economic Forum in 1971, these "Davos" insiders share common beliefs about individualism, democracy, and market economics.
Imperial conquerors have tried to hide their naked self-interest by promising to rule for the good of their subjects. This was and always will be a cynical and hypocritical canard. Beneath the self-justifying rhetoric of benevolent paternalism and cultural superiority lay economic exploitation and the desire for power.
Imperialism has been the most powerful force in world history over the last four or five centuries, carving up whole continents while oppressing indigenous peoples and obliterating entire civilizations. Yet, it is seldom accorded any serious attention by our academics, media commentators, and political leaders. When not ignored outright, the subject of imperialism has been sanitized, so that empires become "commonwealths," and colonies become "territories" or "dominions". Imperialist military interventions become matters of "national defense," "national security," and maintaining "stability" in one or another region.
Neo-Colonialism refers to the use of political, economic, cultural values of a country to strong arm other countries especially former dependencies. This can fairly be said as another side of the bad old days of the colonial rule being continued in a new form. The negative outcome of neo-colonialism is evident in the way the developed countries use their financial capital in underdeveloped countries for exploitation, not development. The new face of colonialism has shown itself in a wide variety of places around the world. Investments made under such policies widen the gap between rich and poor, impoverishing the less developed.
Charles Derber cuts through the ideologies and myths by probing the concept within its historical context - reminding us that globalization and its driving force, "empire building", have been around for thousands of years. All ancient globalization systems were based on the exploitative relationship between a "core" and the "periphery". The net wealth flowed from the periphery (natural resources, cheap labour) to the core (skilled labour, technology) resulting in an ever-increasing gap between the rich core and the poor periphery.
Globalization encompasses three institutions: global financial markets and transnational companies, national governments linked to each other in economic and military alliances led by the US, and rising "global governments" such as World Trade Organization (WTO), IMF, and World Bank. "These interacting institutions create a new global power system where sovereignty is globalized, taking power and constitutional authority away from nations and giving it to global markets and international bodies."
World leaders, NGOs and financial institutions gathered in London for an anti-corruption summit
Globalization might actually be good for poor countries, if only rich countries played by the rules.
Thus it would seem that globalization can mean the spreading of greed, violence and individualism to all corners of the globe. From a Buddhist point of view, when the cultural values of a society are motivated by these unwholesome roots, the society itself will face all kinds of difficulties. Specifically these include corruption, crime, war, exploitation and abuse. Generally they lead to ecological destruction, disintegration of cultural values and the breakdown of all relationships.
The logic of modern economic development has redirected critical discourse on globalisation from a critique of the self-regulating nation-state to a more intensified focus on the role of transnational and multinational entities (MNEs) in promoting global economic disequilibrium (Rhoads and Torres 2005b). ... International economic integration through regionally based trading blocks, migratory patterns of a new mobile labor force, expansion of technological capabilities that place international transactions in real time, and elevated levels of foreign investment all serve as prima facie evidence of a new economic world order that positions multinational corporate interests above those of the nation-state.