At the Debate thingy at the Montfort Literary and Cultural Competitions, my team comprising myself and my good old pal Kartik Andi finished er...agonizingly second. Anyways, the topic was 'Globalization and Privatization aid a nation's growth' and I spoke FOR the topic, while my partner spoke against it. Here's how it went:-

I’m reminded of those timeless bedtime fables my Granny used to recite to me long ago in which she often emphasized, “United We Stand; Divided We Fall”

When I think of a globalized economy, the very first thing that strikes my mind are trade economic channels weaved invisibly among nations of the world, binding them together as a closely knit unit and propelling them to incomprehendible levels of economic prosperity.

The Multi National Companies set up as a direct brainchild of Globalization, not just create countless sources of revenue to the cash rich economies setting them up but also generate numerous employment opportunities to millions around the world, thereby catering to their fundamental economic requirements.

It is only in a globalized economy that the underdeveloped nations have an access to superior knowledge, technology and financial aid from the developed nations, which would otherwise cease to exist in an economy shunning globalization.

Thanks to economic globalization, there exist trade relations among all the nations of the world…even bringing the bitterest of nations onto a common platform for cooperation and succeeding in a sense, to foster fellowship and harmony among them. Don’t you think there is an increasing need for this particularly in today’s times when terms like ‘terrorism’ and ‘nuclear proliferation’ have become the most dreaded buzzwords of today?

A nation in a globalized economy, totally cognizant of the fact that there exist umpteen economies on its doorstep longing to plunge on the goods they produce, would obviously produce goods of fine quality. Thereby, there would be a fiercely competitive race among economies of the world in an endeavour to produce goods of the highest quality. Well, think about the immediate beneficiaries of that race and you’ll understand the reason for my glee.

Trade channels opened up among economies will ensure a sustained rise in the values of currencies of the various economies thereby revealing the true colours of a nation’s economy. This will place them on only one straight road—to economic development.

International Financial Organizations set up as a result of Globalization, like the International Monetary Fund and the International Bank for Reconstruction and Development (colloquially alluded to as the World Bank) safeguard the interests of the relatively weaker nations.

In times of an economic catastrophe (similar to the one we find ourselves in today), when global financing is struck by absolute paralysis, there exists greater scope for unearthing a solution in a globalized economy which brings countries to a common forum for discussion wherein strategies can be chalked out for efficient remedy. Global conundrums are best solved at the global level by means of joint action.

A globalized economy leads to sharing of knowledge and human resources, with the best armoury of every nation coming together to produce the very best for the world.

Think about it yourself. When the world today is increasingly becoming a global village, why should the economy remain behind?

If we want to see the world economy prosper, if we want to ensure that there do not exist hapless folk stranded jobless on streets, left destitute without home or meals, if we want to ensure that the novel economic aspirations of the billions of people in this world are met, we must jump on to the bandwagon of globalization.

Sometimes, the age old beliefs startlingly lead us to illuminating truths.

United We Stand. Divided We Fall.