Globalisation is a boon for all countries including the developing countries as it makes economies of better scale, better availability of goods, standardization of products and increased competition. Free trade has benefited population and helped raise their living standards across the globe. In India for four decades the country shut out foreign trade and investments. Bureaucrats gave licenses on whims and bribes rather than on commercial considerations.
But, nowadays, the developing nations are exploited through free trade as the developed nations have superior bargaining power. Developed nations can sell their products at a higher price. Developed countries often impose penalties or even ban the products of the developing countries which have been produced under environmentally questionable circumstances, and not realizing that the latter have only two resources at their disposal; cheap labour and natural resources.
The exploitation of these two is fundamental to their economic growth. The developed nations are in a way attempting to keep the developing nations perpetually poor. Thus, free trade and liberalization is nothing but ‘eco-imperialism’.
Satwari Cantt, Jammu .