Impact Of Globalisation On The Economic Development Of Pakistan

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Globalisation is the process that involves the international operations of financial and investment markets as a result of improved communication mediums globally. It is the tendency of business enterprises and individuals to step outside their national and domestic markets to other markets around the globe to increase international trade and exchange of cultural values among different nations. Growth of Telecommunication sector is considered as one of the biggest positive sides of globalisation in Pakistan. However, increase in the rate of unemployment has also been witnessed as a negative feature associated with the industrialisation and globalisation of Pakistan’s economy.

This paper discusses the real aspects of globalisation in Pakistan by determining the economical, social, cultural and environmental effects on its economy. The impact of globalisation on the economic development of Pakistan will be discussed with an explanation of both, the positive as well as the negative aspect of globalisation and its effect on the economy, business enterprises and an individual.

Globalisation is the tendency of business enterprises to perform their trading practises by stepping outside their nation’s geographical and economic boundaries. It is the form of international trade that opens up unlimited opportunities for corporations to serve consumers’ groups of their choice beyond domestic market boundaries (Das, 2004, p. 2). The term “globalisation” became popular in the 1980’s
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