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Globalisation or Colonisation
He proceeds by arguing that developing countries like India are in danger of losing their economic, social and political stability if they persist with opening up their economy. By placing culled facts from international reports and selected quotes from public figures, he tempts the reader into believing his viewpoint. However, a one-sided view against globalisation may not be a good recipe for acceptance among the general public, let alone liberal economists. The author’s appeal for rejection of foreign funds and free trade makes for interesting reading, even if, politically speaking, it may sound too Leftist a view. In this Indo-centric book, globalisation has been shown in a negative light. Ray fails to notice the increase in productivity and healthy competition brought about by globalisation. If competition resulted in inefficiency then the Indian banking, telecom and aviation industries would not have grown by leaps and bounds. Raising the productivity level is the only way to raise living standards in the country. The author states that golbalisation is the cause of increasing unemployment and poverty. However, he overlooks the fact that millions in India have been employed through outsourcing of jobs from developed countries because of globalisation and recent studies show that the poverty level has fallen throughout the country. Corruption, the real reason behind India’s dismal state has been completely ignored. If the content of this book is taken into account keeping in view the experience of the author, the reader may be able to empathise with his pro-poor spirit. Kalyan Ray has held various key posts dealing with rural development and was the District Magistrate of one of the most backward districts in the country. He says that the first priority of the government should be to bring down the external debt. But greater investment into the social sector would involve taking of loans. As loans raised domestically are usually at higher rates, globalisation helps a country sustain greater external debts. An economist always shows two sides to the same coin and a politician pretends that the coin has just one side. Kalyan Ray comes across as a politician, and a politician who wants to join a communist party. Incidentally, he belongs to West Bengal. |
Kalyan
Ray’s book is a collection of socio-economic articles written with
clarity, continuity and lucidity. As the title suggests, his book offers
a link between globalisation and colonisation. Ray believes that the
supposedly recent phenomenon of globalisation started with the British
colonialism.