ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Globalisation at Peril

.

The recent pitch by the Prime Minister to push swadeshi and Atmanirbhar Bharat to support local businesses has rekindled a worldwide debate on countering the forces of globalisation by adopting localisation as a measure for Indias economic revival. The outbreak of an uninvited virus from China has not only crippled the global economy but has also muddled the global societal structure. Deriving a comparison with the Great Depression of 1929, countries are quashing their growth trajectories due to disruptions in supply chains and contractions in demand. Isolation, self-sufficiency and self-dependence seem to have become the order of the day.

Globalisation, which had attained worldwide acceptance for its benefits in the early 1990s, has also contributed to the creation of unequal societies with low growth and high debt. The outcome has been the upsurge of issues like the global financial crisis, migrant issues, Brexit, and multiple protests in countries like Hong Kong, Bolivia, Iraq, and Lebanon, among others, while the current crisis of COVID-19 clearly adds to the vulnerabilities of the same. The failure of globalisation emanates not from the creation of the crisis but due to its inability to respond and resolve.

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Or

To gain instant access to this article (download).


Pay
INR 59

(Readers in India)


Pay
$ 6

(Readers outside India)

Published On : 13th Jan, 2024

Support Us

Your Support will ensure EPW’s financial viability and sustainability.

The EPW produces independent and public-spirited scholarship and analyses of contemporary affairs every week. EPW is one of the few publications that keep alive the spirit of intellectual inquiry in the Indian media.

Often described as a publication with a “social conscience,” EPW has never shied away from taking strong editorial positions. Our publication is free from political pressure, or commercial interests. Our editorial independence is our pride.

We rely on your support to continue the endeavour of highlighting the challenges faced by the disadvantaged, writings from the margins, and scholarship on the most pertinent issues that concern contemporary Indian society.

Every contribution is valuable for our future.