South Asia in the Globalized World

Globalization reflects increased and accelerated interdependence of economic and political relations, where local incidents are impacting global society. The world has greatly changed in the recent history and only those would survive in the coming times who could quickly adjust to the changing tones. The South Asia also needed the recipe like rest of the world. The article attempts to find out how did this region cope with the change. World Bank and IMF were the two major instruments used by the West through international means to bring the world to the changing tones. Sri Lanka was amongst the countries that experienced structural adjustment policies jointly tried by the World Bank and IMF. The only redeeming feature was the large migration of Sri Lankan labor to foreign countries. Bangladesh, an underdeveloped and overpopulated nation in South Asia, has slowly been changed by the globalizing world. Poverty isn’t a rare sight in the country of Bangladesh. Globalization entered Nepal after India took the lead in the 1990s, as porous borders with India makes Nepal’s foreign policy dependent on the former. Globalization is not new in India. India has been subject as well as object of globalization. Sajay Baru makes pointed reference to India’s marginal role in the international economic system. Pakistan has also a special experience in globalization. Taking economic relations with other countries as indicator for globalization, Pakistan entered globalization early, with special reference to the Gulf countries after oil discovery in 1970s. The article suggests weaker performance by South Asia in the globalised world.