Deceptive Game of Today's Capitalist Globalization: Evidence from Malaysia's Experience

Globalization is the economic policy of integration of national economies with global economy on the basis of free market competition. It is a neoliberal prescription for industrialization and growth of the emerging economies of the South and a project of capital accumulation for the capitalist North through a process of securing disproportionate share of benefits at the expense of the developing South. The content analysis and Malaysia’s globalization experience poise to support the hypothesis that globalization has high potential to contribute to industrialization and growth of the emerging economies, but at the same time, the way it is practiced, it is a deceptive game of the North and cannot be trusted wholeheartedly for emancipation of the developing economies. The paper suggests for a policy of target oriented ‘inclusive globalization’ to ensure equitable share of benefits of specialization and globalization.