The challenges of globalisation

Mohammad Mosaddek Hossain :
Meeting the challenges and opportunities for proper globalization process between the developing and developed countries, this ultimately requires consideration of how to put data analysis and management on the agenda of socio-economic and human development related globalization approach. In this regard, the following questions be addressed: How has globalization research been conceptualized in the countries? How have globalization approach linkages between developed and developing countries? How has the idea of intra-national research evolved? How has an intranational research perspective been introduced into the analysis of global competition within the existing context? How can global collaboration and co-operation between the countries be balanced and strengthened for maximum benefit? Besides, more or less the Asian countries increasingly become integrated into the core of global economy, the need to adopt internationally accepted global policy and practices and priorities that make for effective global integration among countries.
With differences in perception, peculiarities of environment, tools of research engagement, and the constraints and opportunities with which globalization process is conducted in Asian region and the developed nations in full view, critical evaluation should also be undertaken in a comprehensive manner for reaping the fruit of globalisation.
Nonetheless, comprehensive interpretation of can help identify the direction, processes, tools, structures, and depth that should be engaged to provide solutions to need-based globalization process for achieving balance between developed and developing nations as a whole.
As we have seen earlier globalization and its implementation process is not fully favorable. Apart from its nature of the system for collecting and processing data, the mechanisms for doing so are outmoded and ineffective in comparison to recent trend. Although some government ministries, agencies, and parastatals have formal reporting and research arrangements, they appear weak and unable to contribute tangibly to globalization process. Moreover, what constitutes the research input and output are intentionally manipulated, pre-determined, and subject to political and bureaucratic dictates or conditionality, which are at variance with the tenets of good research; and thus not helpful to globalization studies.
 In the current trends public policy has increasingly focused on public sector participation and state intervention in research . This has resulted in a wide range of complimentary and opposing research requirements, as evidenced in the increasing scrutiny around, and complexity of, collecting, analyzing, and processing data and making deductions.
Beyond these ways forward, indications remain that infrastructure for macroeconomic and human development related globalization process is weak, especially when compared to that of the Developed countries, the North American countries (United States and Canada), and Japan. Consequently, advancing globalization study in these region needs::
strengthening the professional, technical, and financial research capability of public and private institutions and NGOs with a view to ensuring their independence and capability
developing procedures for assessing and disseminating research results
developing procedures for dismantling the surrogate research centres that would try to identify the loopholes of gap regarding globalisation process
promoting the participation of individuals, civil society, and government institutions in the formulation of global policies
deepening international macroeconomic, socio-political, and socio-cultural collaboration within the context of Asian challenges regarding globalization policy development and proactiveness.
In view of the above, and given the importance of such research as a tool for socio economic growth and human development, it is imperative, in order to guarantee a sound, reliable, credible, and acceptable process towards globalization,
Governments of the Asian Regions highlights that: a strong, dynamic and well-structured globalization policy should be formulated for the socio- economic sectors and other development sectors ethics and guiding principles are formulated that will ensure the development, growth, service delivery and integrity of macroeconomic and human development process in Asian regions.
Formulating appropriate institutional structure for fiscal and monetary management strategy and techniques
the industrial sector research is reformed to realize effective and proactive research and so that whatever capacities exist for macroeconomic study with respect to global studies are strengthened to deepen participation and consolidation of macroeconomic process.
regulatory framework is formulated, both as a necessary condition for facilitating the participation of the private sector and as a way of improving the efficiency of public sector involvement in macroeconomic and development approach
reforms can provide various solutions to the socio-economic and development crises of the past decades that have plagued this regions.
In evaluating the efficiency and effectiveness of the socio-economic challenges in globalization context it is important to:
determine criteria for assessing the failure and success of the various components of the socio-economic, political and other development sectors.
set plans and determine methods for assessing whether the criteria have been met
determine the time-frame and intervals in which ongoing assessment should be made and the tools required for such assessment
determine remedial action to be taken in the case of deviation from plan
bring key public and private sector research actors together annually to review the challenges and an action plan.
Finally, this investigation recommends a more detailed and deeper study relating to the socio-economic challenges faced by the inhabitants of the Asian region. This is also a need to explore the realities on why and how the gap be filled through the joint policies and international programmes undertaken by the developed and developing countries to share the sweet fruits of the globalization process.
Approaches to macroeconomic and human development related globalization studies, and the local conditions in which they take place in this region, have implications for policy and practice. This raises the issue of whether developed countries should be allowed to impose and selectively prescribe a unidirectional focus for the developing regions. If so, a true and well-balanced globalization process will be difficult to attain any more. This is because the infrastructure for globalization studies in many cases are relatively poor and coordination among them should be improved. At the same time, efforts must be increased toward the development of a balanced economy among the developed and developing countries. It is obvious that in-depth research on globalization as a prerequisite for a more effective and satisfactory cooperation and collaboration among the countries. Such collaboration should continue to ask: Where are we? Where should we be? Should effective planning, execution, and management shift focus in globalization process in near future? These vital questions are analysed and answered in this study that can help us for future planning and understanding a common plan of action for maintaining equality and cooperation among the rich and developing countries like ours.
Mohammad Mosaddek Hussain is a management expert. He is a regular contributor to The New Nation

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