The current debate on globalization has a broad area of general agreement, namely, that globalization is the latest expression of a long-standing strategy of development based on economic growth and liberalization of trade and finance. This results in the progressive integration of economies of nations across the world through the unrestricted flow of global trade and investment. From Buddhist point of view it is important because Buddhism is a global, world faith and it further stresses the principle of interdependence which is also employed by proponents of globalization to advance their economic interests. Globalization also leads to the globalization of culture, the homogenization of culture. It can undermine local cultures and disrupt traditional relationships in a society with the assumption that free trade will also to lead to a more democratic society. Though there are successes in the process of globalization, there is much unrest among peoples today. Unrest occurs mainly among poor and underdeveloped nations which are deep in debt and suffer internal conflict, poverty, droughts and famines. There is immediate knowledge of disasters and tragedies. The glint and glitter of the developed nations are flashed to the underdeveloped nations, arousing desires for a better life among people whose political, educational, social and economic conditions prevent quick fulfillment of those desires.
Venue : Old Convocation Hall, Faculty of Arts, University of Delhi, Delhi, India
Date : 17-19 February, 2010