ABSTRACT
Globalization has been a popular research topic since the late twentieth century, but scholars have been divided with respect to the impact of globalization on the economy and society (Giddens 1999; Held et al. 1999; Hirst and Thompson 1996; Ohmae 1990, 1995; Stiglitz 2002). While there have been many critiques of the globalization initiated by international financial organizations such as the IMF and the World Bank or by advanced countries such as those of the G-7, globalization has become an economic and ideological hegemony reshaping the sovereignty of nation states. There has been an increasing threat to the livelihood of workers, peasants, and the urban poor in most of the Western world and in nonWestern countries. Nevertheless, countries such as China and India have hailed the opportunity opened up by globalization to promote economic growth.
