000			01754pab a2200157 454500
008			180718b2003 xxu||||| |||| 00| 0 eng d
100			_aMajumder, Bhaskar
245			_aGlobalisation and global policy institutions: the tasks of the Third World
260			_c2003
300			_ap.314-25.
362			_aAug
520			_aPost-Second World War Globalisation is new at least in respect of formation of policy coordination groups. These groups make de facto global economic policies that are outside the United Nations or any other formal system characterized by democratic processes and participation. These policy coordination groups are weighted in favour of the Development Market Economies (DMEs). The latter naturally determines any extension by inclusion of countries in the existing groups or in the new groups that are formed by the DMEs. Once these groups are formed that include some of the Third World Countries (TWC), some of whom are large economies, the TWCs have no choice but to obey the rules and norms of the groups of which they are members. The paper examines this taking G-20 as the most recent case. The paper acknowledges the fact that the benefits of entering the global market may be limited for the excluded or isolated countries in the Third World that are not members of policy coordination groups. The paper argues that the TWCs will avoid committing the errors of remaining in isolation if they initiate formation of their own groups. If the formation of such groups reduces the number of negotiators in world trade and investment then the countries that were previously isolated will be in a better position to deal with them. - Reproduced.
650			_aGlobalization
773			_aAsian Economic Review
909			_a58315
999			_c58315 _d58315