Globalization, imperialism and its discontents
JOMO Kwame Sundaram
ABSTRACT Situating the questions of globalization and imperialism in recent world economic and social developments, the essay begins with a review of how use of the term imperialism evolved over the 20th century. The more recent trend towards economic liberalization has had an international dimension closely associated with the growing use of the term globalization. Four economic dimensions of globalization are then considered: foreign direct investment, finance, trade and international governance. This brief review considers the contradictory nature of these dimensions, suggesting that the term globalization captures both the cross-border and contradictory nature of these phenomena while implying a level playing field with equivalent partners.
Keywords: globalization, imperialism, hegemony, world economy
Jomo Kwame Sundaram has been Assistant Director General, Economic and Social Development Department, Food and Agriculture Organization of the United Nations since August 2012. Jomo was Assistant Secretary General for Economic Development in the United Nations’ Department of Economic and Social Affairs (DESA) from January 2005 until June 2012, and (Honorary) Research Coordinator for the G24 Intergovernmental Group on International Monetary Affairs and Development from December 2006 until September 2012. In 2007, he was awarded the Wassily Leontief Prize for Advancing the Frontiers of Economic Thought. Jomo has authored and edited over a hundred books and translated 12 volumes besides writing many academic papers and articles for the media.