Economist takes exception to conflict in developing countries

Karachi

Senior economist and Director Research, Institute of Business Management (IoBM), Dr Shahida Wizarat has taken strong exception to widespread and endemic conflict and militarization in the developing countries. Talking to APP here, she said the situation has emerged to be one of the biggest challenges faced by the third world already reeling under the pressure of globalization.
Mentioning that countries across Asia, Africa, Middle East were engaged in sectarian, ethnic and ideological conflicts, she said. A common feature of these conflicts was that populations were polarized systematically into ethnic, sectarian and ideological groups, she added. Dr Wizarat, quoting her own study, said one percent increase in world conflict increases GDP of developed countries by 7.7 percent.
“Unfortunately the GDP in developing countries declines by 3.8 percent,” said the former Director of Applied Economics Research Centre (AERC), University of Karachi, and currently dean of College of Economics and Social Development (CESD). The researcher said the developed countries were thus the major beneficiaries of conflicts, enveloping the world today on account of increase in the output of the industrial military complex.
“It further enables them to take control of natural resources from Third World countries that do not have the means to protect these,” said Dr Shahida Wizarat. The situation is also closely linked to globalization, she said mentioning that a vast majority of the economists in the world are not only contesting globalization but also consider it as a process of vast, systematic, institutionalized and legitimized plunder of the Third World countries.
“Globalization has emerged into a condition in which productive capacity of developing countries, their land, labour, forests, and fisheries now produce mostly for the benefit of a relatively few rich people elsewhere,” she said.—APP

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