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Posted by: | Posted on: February 2, 2009

Globalization and Financialization

Globalization and Financialization

The New Approach of Best Corporate Citizenship

Abstract

Globally speaking, the politics of globalization has been enormously debated. Current financial crisis has triggered the unenthusiastic brunt of people worldwide. This phenomenon is substantially caused by the impact of globalization. This paper will seek to understand the current financial crisis of financialization under the spectrum of globalization. The ongoing financial crisis of America and other regions of the world clearly translate the interconnectedness of the new approach of financialization conundrum. This paper elaborates the effect of globalization on financial flows and discovers the casualties from this crisis. The current United Nations Secretary General Ban Ki-moon called this crisis as “Slavery Perpetuated by Global Financial Crisis”.

First, there will be an introduction and some thought of pros and cons of globalization. Second, there will be an explanation of financial crisis, its casualties in our planet. Third, there will be suggestions and recommendations including the structure design to the new approach of best corporate citizenship to shoulder force in tackling this predicament.

Background

Globalization simply refers to the integration of regions into a global sphere. Many factors are considered the substantial proponents of globalization such as political ideology, social, culture, finance, technology, economics and geography that have drastically changed its shape to fulfill the lens of globalization. Many authors have linked current globalization to the belief of it is a repeating world history. Some said globalization has evolved around the expansion of human population and the invention of civilization such as the Sindhu of India, Roman Empire, or Han Dynasty of China. Some found that the historical routs of explorers and colonial agents are initially the links of flow of globalization such as the discovery of North America by Christopher Columbus or the Silk Road of Marco Polo. But the notion of globalization clearly emerged after the World War II when economists and politicians tried to restrain from continuing declining international economic integration and intractable division. The term itself was coined by different scholars interpreting in different periods. But in modern world, globalization has been preferably reiterated to identify the flows of trade, exchange of ideas and knowledge, technology, investment, and financial exchange. In Globalization and Its Discontent, Joseph Stiglitz defines globalization as “closer integration of the countries and peoples of the world which has been brought about by the enormous reduction of costs of transportation and communication, and the breaking down of artificial barriers to the flows of goods, services, capital knowledge, and (to a less extreme) people across borders” (Stiglitz, 2002). Part of this change is due to mobilization of labors and migration, but much of the larger part is due to changes in per capita income that is the “great divergence” as the ratio of per capita income of the richest to poorest nations are widened (Venables, 2006).

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Posted by: | Posted on: January 27, 2009

Some visions from some scholars on post-war Cambodia

“Cambodia’s future is bleak. Democratic forces in opposition to Hun Sen have been impeded by the emerging norm of avoiding conflicts to maintain stability even if stability undermines the development of improved human and civil rights…” — Abdulgaffar Peang-Meth 1997

Sorpong Peou, 2001. “The International Library of Social Change in Asia Pacific: Cambodia”. Ashgate Publishing pp.341. Article appeared in Contemporary Southeast Asia on “Understanding Cambodia’s Political Development”. 19, pp.286-308

“Even in the rosiest scenario, democracy will take a long time to put down firm roots in Cambodia. If it is to have a real chance, however, the country’s political elites must begin respecting norms of accountability and transparency, and must get serious about fulfilling the mandate for democratization that they received from the voters in May 1993”. — Julio A. Jeldres, 1996

Sorpong Peou, 2001. “The International Library of Social Change in Asia Pacific: Cambodia”. Ashgate Publishing pp.349. Article appeared in Journal of Democracy, Volume 7, Number 1, January 1996 on “Cambodia’s Fading Hopes”. 19

“A preliminary assessment of the political economy of the Royal Government of Cambodia evokes a sense of deja vu . Twin themes of continuity and transformation emerge from the analysis, with attempts to transform the economy frequently undercut by the continuity of malfeasance, corruption, and violence. The Cambodian proclivity for violence in the post-Khmer Rouge period is especially disheartening…” —Ronald Bruce St John, 1995

Sorpong Peou, 2001. “The International Library of Social Change in Asia Pacific: Cambodia”. Ashgate Publishing pp.539. Article appeared in Contemporary Southeast Asia, Volume 17, Number 3, December 1995 on “The Political Economy of the Royal Government of Cambodia”.

Posted by: | Posted on: December 5, 2008

Cambodia-China Relationship and Its Enlightenment

Looking back to the history, Cambodia-China has longest tied relationship with each other. It is in both historical and contemporary co-operation. The name of Funan, an ancient Cambodian capital city, was literally coined by Chinese trader, and many other names of Khmer Kings during Funan period were entirely Chinese vernacular. The most significant notion is the Chinese Ambassador Chau Takuan who visited Cambodia Empire of Angkor. He inscribed the situation there vivaciously. His thesis becomes important historical manuscript for students and researchers to understand the culture of Khmer Empire in that time prior to its declination and seizing by the Siam eventually.

Recently, many Chinese top officers came to Cambodia with the same intention is to strengthen the relationship and boost the economic co-operation between two countries. There are several reflections to this tie and its future trend.

After the cold war, the tie with China was promoted in both economic development and political bloc rivalry. China provided aids to build Cambodia infrastructure and other industrial development tools. During Songkum Reastr Niyum led by King Norodom Sihanouk, there were concrete legacies of China’s support left in many fields. But when the aura of American war spread out in the region, China became the leading supporter to the Khmer Rouge to rally against America. American imperialistic war and China’s hard line resistance to the influence of America in the region resulted intractable conflicts and catastrophe in Cambodia. China and America were very keen proportion of peace and war in Cambodia in that time.

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Posted by: | Posted on: September 17, 2008

Pride or shame ?

Tuol Sleng Museum applies for registration with Unesco intrigued the question that this initiative will bring shame or pride to Cambodian people? If we check in the listing numbers of world cultural heritages subscribed by Unesco, we seem not see any genocidal or brutal place being put as World Heritage. But if Cambodia can achieve her purpose to register Tuol Sleng Museum with Unesco, it would be possibly questionable to the intent of this orientation.

Conceivably, many foreign visitors have always laid their expectation when they visit Cambodia: to experience the well-known greatness of Angkor Wat and the horrible notorious legacy of Khmer Rouge. Weighting these two expectations rationally reflect the pride and shame of Cambodia. The reputation of Angkor Wat highly honors the Cambodian people in the past, present and future. But the legacy of Khmer Rouge and Tuol Sleng prisoners’ camp ambiguously construes Cambodian people.

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