Deceptive Game of Today's Capitalist Globalization: Evidence from Malaysia's Experience

Molla, R.I., Alam, M.M., and Murad, M.W. 2011. The Deceptive Game of Today’s Capitalist Globalization Evidence from Malaysia’s Experience. European Journal of East Asian Studies, 10(2): 169-180.

12 Pages Posted: 29 Mar 2017 Last revised: 3 Apr 2017

See all articles by Rafiqul Molla

Rafiqul Molla

International Islamic University Chittagong

Md. Mahmudul Alam

Universiti Utara Malaysia

Md. Wahid Murad

University of Adelaide - Faculty of the Professions

Date Written: 2011

Abstract

Globalization is the economic policy of integration of national economies with global economy on the basis of free market competition. It is a neoliberal prescription for industrialization and growth of the emerging economies of the South and a project of capital accumulation for the capitalist North through a process of securing disproportionate share of benefits at the expense of the developing South. The content analysis and Malaysia’s globalization experience poise to support the hypothesis that globalization has high potential to contribute to industrialization and growth of the emerging economies, but at the same time, the way it is practiced, it is a deceptive game of the North and cannot be trusted wholeheartedly for emancipation of the developing economies. The paper suggests for a policy of target oriented ‘inclusive globalization’ to ensure equitable share of benefits of specialization and globalization.

Keywords: Economic Globalization, Capitalist Globalization, Neoliberalism, Fair Market, Economic Nationalism, Income Convergence, Industrial Competitiveness

JEL Classification: C32, F13, F43, O11, O19, O47, O57, P16, P17

Suggested Citation

Molla, Rafiqul and Alam, Md. Mahmudul and Murad, Md. Wahid, Deceptive Game of Today's Capitalist Globalization: Evidence from Malaysia's Experience (2011). Molla, R.I., Alam, M.M., and Murad, M.W. 2011. The Deceptive Game of Today’s Capitalist Globalization Evidence from Malaysia’s Experience. European Journal of East Asian Studies, 10(2): 169-180. . Available at SSRN: https://ssrn.com/abstract=2941577 or http://dx.doi.org/10.2139/ssrn.2941577

Rafiqul Molla

International Islamic University Chittagong ( email )

College Road
Chittagong
Bangladesh

Md. Mahmudul Alam (Contact Author)

Universiti Utara Malaysia ( email )

Sintok, Kedah
Malaysia

Md. Wahid Murad

University of Adelaide - Faculty of the Professions ( email )

Australia

Register to save articles to
your library

Register

Paper statistics

Downloads
20
Abstract Views
186
PlumX Metrics