The consequence of globalization, privatization, deregulation, and free market

By Abdul Hamid

Recently a global conference of Less Developed Countries was held in Brussels. As usual the result and the balance sheet of the UN & WTO sponsored conference is generally more agony for the LDC’s and more misery for the working class in particular.

We saw the result of the “Copenhagen Social Summit”, we saw the out come of the “Beijing Conference”, and we know the result of “Rio Summit”. Very recently we have the bitter experiences of “Porto Alegre Social Forum”. Whatever the agenda of these summits or conferences, whoever are the organizers, however touchy the slogans are, the outcome is almost similar. The advocacy in favor of imperialist “Globalization”, to give a cosmetic layer on the woes and miseries of the working people around the globe and so-called “humanization” of the capitalists plan of exploitations are the end result of the meets.

The already vulnerable economic situation of the poor and less developed countries have further been deteriorated under the stiff conditionalities of “globalization” and thrust of “free market” economy advocated and implemented (under compulsion) by WTO and the capitalist bosses. The thrust of free market almost totally de-industrialized undeveloped countries likes ours. Millions of jobless people is added to the glut of millions unemployed in these countries. Due to tariff and tax-free imports the remaining informal sectors are also facing closer, because the local producers have to pay VAT and taxes.

The growing garment industries of our country so long faced the dreadful condition of MFA & QUOTA system. But as per WTO condition after the year 2005 (when quota system is abolished) these industries will face new conditionalities, which will be harder to overcome. To fulfil those conditions the situation of this country is not enough nor the situation can be changed overnight.

Actually the conditions of WTO is not at all in favor of our countries, these are framed and formulated for the developed countries and for the multinational capitals. To fulfil the WTO condition our country has been made dependent on foreign goods. To accept the small amount of foreign investment the country has to accede to such conditions which some times denies the sovereignty of the country itself. Multinational capital has penetrated in our agriculture. Our farmers are compelled to accept Genetically engineered Hi-breed seeds without reproduction capacity. In the name of “intellectual property right” the farmers and the people are deprived of many fundamental basic rights. Our country is compelled to withdraw all kinds of subsidy, whereas the developed countries are increasing subsidy to their producers.

Today the free flow of foreign capital (mostly speculative) has marginalised the local capital and the productive forces. Due to this influx local honest investor are becoming loan defaulters and bankrupt. As a result the state owned banks are suffering from liquidity crisis on the other hand the privately owned banks are the dens of thieves and looters.

Our country is going to be poorer day by day due to the compulsory imposition of various conditions and directives of “globalization”, “free market” WTO and other so-called donor countries. We are compelled to open our market whereas the developed countries are pursuing a policy of stiff protectionism. To abide by the condition of the “donors” we are forced to invest in non-productive sectors. Whereas 80% of these loan money goes back to the “donors” on various pretext before the actual utilization of the money. (Consultency, management, technology, mobilization of their own contractors etc). The small amount of foreign exchange earned by our country through export of manpower and some raw materials are exhausted in paying back the interest of those unwanted loan (they say aid).

Another curse, the N.G.O. culture is destroying our country. As per condition of the World Bank, IMF and the “donors”, the lion share of those loans (aid) is chennelized through the N.G.Os. These N.G.O have no accountability to the state or to the people, whereas the repayment responsibility lies with the state and the people. Some of these NGOs are direct agents of the imperialist multinational capitals. They use touchy slogans of ‘poverty alleviation’, ‘awareness building’, ‘women empowerment’ etc. But in practice poverty is increasing, increasing the number of landless peasants. (in 1972 there were 32% landless population in Bangladesh whereas now it is 78% as per Government statistics). Repression and oppression on women has increased many folds (some time by the NGO themselves). NGOs are now big corporate business houses in the country. The biggest Telecom Company belongs to an NGO, the biggest dairy & paltry firm belongs to NGO, the biggest bank and leasing company is NGO, the biggest housing company is NGO, the tallest building in Dhaka city belongs to NGO. These NGOs are marketing agents of various multinational companies selling G.M food and seeds. The micro credit loan takers are compelled to buy the G.M seeds (even if he/she does not have any land). All these activities are done by the instruction of the advocates of “globalization” the World Bank, IMF and imperialist finance capital.

Time has come to think, under the plan of disastrous globalization scheme how we are being used as hinterland and market of the capitalist of the developed countries, how we are compelled to negotiate with our country’s sovereignty. We have to think how we are being made under developed from less developed, from under developed to the poor and marginalized.

The past experience shows that the much publicized Copenhagen social summit only legitimized the rule of capital , women’s right was not established in Beijing. On the other hand the repression and oppression on women has increased globally. ILO convention 103 has been destroyed. Trade union rights are being snatched away, de-regulation is destroying all rights and gains of the working class.

Recently we have seen an NGO Olympic in Port Allegro of Brazil.

Apparently the Porto Alegre meeting was of “anti globalization” but the outcome and final declaration is for “humanizing” the “globalization”. Actually the authors of “globalization” are the sponsors of these types of forums (in disguise) just to legitimize and swallow the poisonsof”globalization”.(complements to the forum by George Soros may be recalled).

For our country “globalization” means looting of our natural wealth like oil & gas by the American and British multinational companies. “Globalization” means privatization of our establishments and services to the foreign capital. “Globalization” means we accept de-regulation and surrender our all rights to the capitalist’s onslaughts. “Globalization” means surrendering country’s sovereignty to the imperialist capital.

As an under developed country we have no product to be presented in the “free market” because all our organized and formal sector of industries like jute, textile, steel, sugar etc have been destroyed and all productive forces have been marginalized. The foreign capital and speculative capital and capitalists can move any where in the world, capital do not require any visa for super exploiting in any country, then why the labor forces can not move freely? This one way “globalization” is not acceptable. We the work force (unemployed) the last resources of our country want to compete in the “free market”.

(Bangladesh National Workers Federation)
15A. Purana Paltan. Dhaka-1000. Bangladesh.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.