Deglobalization in the World Economic Order
Abstract
Dr Masuma Hasan*
A very warm welcome to everybody and especially to Dr Ishrat Husain who is today's speaker. He is the former Governor of the State Bank of Pakistan. He was Dean and Director of the Institute of Business Administration. He was adviser to the Prime Minister on institutional reforms and austerity and has had a distinguished career as an economist known for his expertise and his academic excellence. He has served on many important committees and commissions in the government of Pakistan. He has held the status of federal minister, and he has also served in many other parts of the world as a distinguished economist. We can say that he is a leading economist not only in Pakistan but in many parts of the world.
Dr Husain had a great career at the World Bank where he worked for two decades, and where he held many key positions. After retirement, he has been actively involved in many national and international assignments. In 2009-2010, he was appointed by the Government of Pakistan to chair the pay and pensions commission. He has also been associated with the Benazir Income Support Programme (BISP) in many senior capacities. He served as Convener of the Economic Advisory Council, Ministry of Finance, and as Member Advisory Council to the Minister of Planning and Development and Reforms. He is a great scholar and has written about two dozen books and monographs and he has contributed more than 40 articles in refereed journals and many chapters in books. His famous book, Pakistan: The Economy of an Elitist State, has been widely acclaimed.
Dr Ishrat Husain*
I will set the ball rolling by saying what globalization is, which started in its full force since in 1990, when the Soviet Union collapsed and there was no challenge to the paradigm of economic philosophy at that time. Globalization took over. Contrary to the views of many, the facts speak for themselves as to how the change has benefited not the western world but the emerging and developing countries of this world. This is something of which people are not aware.
