ME Interview Series on Globalization, West & Developing Countries with Hervé Azouloy, President of ATHES Finance and Participation & Ezilarsan PKP, founder & Editor – MarketExpress.in| India’s First Global Insights & Sharing Platform
Hervé Azoulay: Several factors have contributed to the erosion of the idea of Western globalization and the questioning of its relevance. Here are three key factors:
Reaction against economic globalization: Over the years, many groups and individuals have expressed their discontent with the effects of economic globalization. Some have perceived globalization as favoring large multinational corporations at the expense of small local businesses and national employment. Concerns about job outsourcing, unfair competition, and the exploitation of workers in developing countries have fueled anti-globalization movements.
Rise of nationalism and protectionism: In many regions of the world, there has been a rise in nationalism and protectionism, characterized by a prioritization of national interests over international cooperation. Some governments have adopted protectionist policies aimed at safeguarding their industries and workers from foreign competition, challenging the principles of free trade and the movement of goods and people.
Growing inequalities and social discontent: Globalization has often been associated with an increase in economic inequalities, both at the national and international levels. The economic benefits of globalization have been unevenly distributed, leading to a growing social discontent. People who feel excluded from the benefits of globalization have expressed concerns about wealth concentration, unemployment, and a decline in quality of life.
Hervé Azoulay: There are several historical, political, economic, and social reasons:
Origin and Historical Structure : International institutions have often been created by dominant powers, primarily industrialized and developed countries. These countries have played a central role in the creation of these institutions, which can give the impression to developing countries that they are designed to serve the interests of these powers.
Disproportionate Influence : Developed countries, especially the permanent members of the UN Security Council and the major contributors to international financial institutions, often have a disproportionate influence on the decisions and policies of these institutions. Developing countries have less weight in decision-making, which can be perceived as a power imbalance.
Conditionality and Structural Reforms : International institutions, such as the International Monetary Fund (IMF) and the World Bank, often impose strict conditions on developing countries in exchange for financial aid or loans. This requires structural reforms inspired by economic models of developed countries, which do not correspond to the realities and specific needs of developing countries.
Privatization and Liberalization Policy : The policies advocated by some international institutions often encourage privatization, market liberalization, and reduced government intervention in the economy. These approaches can be perceived as favoring the interests of international businesses and investors at the expense of the national interests of developing countries.
Global Governance in Transition : Towards Multipolar Cooperation: A perspective for a fairer and more peaceful world
The author examines how the West, for decades, has been the main driver of globalization and how it has eroded with the emergence of opposing currents such as anti-globalist and identitarian movements in the West. The author explores international institutions such as the UN, IMF, and World Bank, created by the West to establish unified global governance, only to be perceived as tools of domination rather than cooperation. The book explores the advantages and disadvantages of the Western model of democracy and human rights, addressing their limitations and imperfections. Faced with these developments, a comparative approach is adopted by examining the Chinese model as an alternative to Western globalization and offering the BRICS, emerging countries, the capacity to challenge the established world order. Finally, the book proposes an innovative vision of a global governance of nations. Through geopolitics and systemic analysis, the world is divided into geographical zones, thus distributing power in a decentralized manner. A central, lightweight, and functional network will coordinate these zones while respecting their autonomy and diversity.
Hervé Azoulay, President of ATHES Finance and Participation, also a Professor at the Silk Road Business School (SRBS), is a CNAM-trained engineer with a DBA (Doctorate of Business Administration). He has held executive roles in prominent international corporations and has taught at esteemed institutions such as Scienc ...
Ezilarsan PKP is an entrepreneur, iit-madras alumnus, the Founder of MarketExpress - India's First Global Insights & Analysis Sharing Platform & co-founder of 
