Economic globalisation is the outcome of actions taken by governments and companies of major powers, especially the United States. These governments and companies make decisions affecting world order, setting the rules and providing the operational mode for various institutions. Their decision-making is inspired more by self-interest than by criteria such as democracy, transparency and accountability. In Egypt, we need to understand that globalisation is the outcome of objectives and interrelated historical processes. For example: The latest scientific and technological revolution, especially in information and communications, has left a profound impact on the evolution of societies, one that equals at least what was witnessed during the Industrial Revolution. The world is moving from the industrial age to the information age, with obvious repercussions for the world economy, the international division of labour and the pattern of global interdependence. In the international money market, information is instant and distance of no particular relevance. Since the collapse of the Soviet Union, attempts at socialist and independent development have become unthinkable. As capitalism triumphed, the world moved to a market economy, and the state's role in the economy receded. Multi-national corporations are now competing for profits in a nearly- open global market. Global power is now lopsided. In economic, information, political and military aspects, the US is the world's uncontested leader. The massive disparity in the distribution of global power is affecting the way globalisation is being managed, as well as the manner in which the rules of the game are being set. As a result, international economic organisations and multinational corporations are eclipsing -- to variant degrees -- sovereign states as major policy- makers. Priorities are shifting in this fast-moving international scene. A new set of goals has surfaced which includes economic liberalisation, increased competitiveness, improved health and education, better research and development, stronger civil society, respect of human rights, democratisation, women empowerment, environmental protection and operational standardisation. Economic and non- economic doctrines have shifted toward human development, sustainable development, gender issues, global competitiveness and good governance. Various concepts regarding economic development, social justice, regional integration, state sovereignty and national security are under review. Taha Abdel-Alim Taha * The writer is an expert at Al-Ahram Strategic and Political Centre.
