Globalization too fast for most Indians

Globalization too fast for most Indians
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First Published: Fri, Feb 08 2008. 12 58 AM IST

Updated: Fri, Feb 08 2008. 12 58 AM IST
One out of two Indians feels that “economic globalization, including trade and investment,” is happening too fast for their liking, a new BBC World Service global poll has revealed. Surprisingly, 53% of people in the US, 55% in the UK and 64% of the people in France feel the same way. According to the poll, in G-7 (or most developed) countries, whose finance ministers are scheduled to meet this weekend, 57% of the people, on average, feel that globalization is happening too fast. The survey was conducted among 34,528 citizens in 34 countries over three months ended in January, by international polling firm Globescan with the Program on International Policy Attitudes (PIPA) in the University of Maryland. In India, 1,103 people were interviewed by CVoter, Globescan research partner, in mid-January, around the time the stock markets fell sharply. The survey covered both urban and rural India. Nearly one-third of the people surveyed in 27 countries—an average of 64%—believe that the benefits and burdens of “the economic developments of the past few years” have not been shared fairly. The proportion in India that believes this is 59%. However, at least in some developing countries such as Brazil, Kenya and Indonesia, such perceptions of unfairness seem to be following the belief that globalization is proceeding too slowly. “Few want to slam the brakes on globalization, and many appear to believe that this will help break down some of the inequities,” said Steven Kull, director, PIPA. Despite pervasive poverty in their countries, some 41% of Indians and 58% of Chinese believe the sharing of economic benefits and burdens has been somewhat fair. The poll also brings good news for the World Bank, much maligned by policy activists in developing countries. Except in Argentina, 55% of the respondents—51% in India—find it “a positive influence”.
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First Published: Fri, Feb 08 2008. 12 58 AM IST