Presented at the 18th Annual Conference of the Global Awareness Society International - May 2009
water and the incidence of tuberculosis. In addition, environmental degradation, such as the receding level of the Aral Sea, poses a major challenge for the country.
Globalization, scope, and challenges Addressing the issues of wealth creation in poor and less developed countries began only after World War II. Studies after studies show that poor countries should seek opportunities through openness, promote FDI, and engage to modernize and globalize their businesses. There is also a significant multiplier to infrastructure investments in the bottom of pyramid markets in various countries. Both modernization and internationalization efforts with simultaneous increases in political stability, industries development, information systems, and institutions can increase national economic development. As some of the evidence and trade statistics show, the total value of world trade has grown substantially during the decades of the 1980s and 1990s. In the global era, trade matters since it sustains both economic and human capacity developments. There are many countries have not benefited from the economic integration called for in globalization. These countries should evaluate their problems and challenges in attracting foreign direct investments. There are a number of countries--small and large— doing well under modernization and internationalization and now is the time for Central Asian countries to learn from their experiences. The following paradigm aptly describes how Central Asian countries can move outwardly in the path of increased development. To move from an agrarian society, a country must seek modernization of domestic businesses, while at the same time internationalization of its industries. Recent studies and statistics show such a commitment and direction has worked well for such countries as China, South Korea, Singapore, Taiwan, among others. Political stability—not necessarily a democratic form—has assisted countries in their developmental efforts. We can safely say “modernization without democracy” is possible. A major example: China.