1. Islamic Worldview and the Challenges of Globalization  ‘Globalization’ defined:  a phenomenon involving the integration of economies, cultures, governmental policies, and political movements around the world;  The growing economic interdependence of countries worldwide through the increasing volume of cross-border transactions in goods and services of international capital flows, and also through the rapid and widespread diffusion of technology;  it consists of processes that lead to global interdependence and the increasing rapidity of exchange across vast distances 1

2.  it has acquired three different distinct meanings: 1) Information meaning of globalization: Forces which are transforming the information pattern of the world and creating the beginnings of what has been called the information super highway. Expanding access to data and mobilising the computer and the internet into global service.  The economic definition of globalization: Forces which are transforming the global market and creating new economic interdependencies across vast distances.  The third meaning of Globalization is comprehensive: All forces which are turning the world into a global village, compressing distance, homogenizing culture, accelerating mobility and reducing the relevance of political borders. Under this comprehensive definition, Globalization is the gradual villagization of the world. 2

3.  As early as 1962 the Canadian visionary Marshall McLuhan wrote that the electronic age was turning all humanity into a “global tribe,” and the term global village is attributed to him 3

4. Positive Aspects of Globalization  Foreign Direct Investment (FDI) has helped to reduce poverty by creating jobs and improving incomes.  New communications and information technology have helped disseminate knowledge in many fields of study and disciplines.  Communication is cheaper and easier. Costs of telephone calls as well as travel have fallen. 4

5.  This makes it easier to understand one another. Communities although heterogeneous, can be more cooperative now that are more means of understanding each other.  Globalization makes it possible for humanity to have compassion for each other when calamities – natural or man- made – affect others.  Issues such as human rights and public accountability are brought to the fore. 5

6. Negative Aspects of Globalization  Environmental degradation due to unrestrained logging activities of transnational corporations whose sole aim is to multiply profits.  Although poverty has been reduced to a certain extent, new economic disparities have been created. There are stark regional disparities in poverty.  Basic necessities in life are set aside in favor of profits. Many countries in the South have been occupied with facilitating foreign investment in industries that are lucrative to foreign markets and forsaking the most fundamental needs of the people. 6

7.  Globalization aids the removal of national controls over cross-border financial flows. Dramatic outflows of capital from one country to another have caused havoc in some currencies, particularly in Southeast Asia.  Advances in technology aggravated by the outflow of capital to low cost production sites in the South has caused growing unemployment in the North, which is an affront to human dignity.  Globalization has popularized the consumer culture. Consumerism has given birth to materialism where people are more interested in what they have rather than the essential aspects of humanity. 7

8.  Global consumerism is now forming a homogeneous global culture where indigenous cultures of the South are being replaced by Western cultures.  The global entertainment industry is propagating a superficial American pop culture, which titillates the senses and impairs the spirit.  Formal education systems are emphasizing technical and managerial skills responding to market demands and leaving aside traditional academic subjects. This means that education is nothing more than acquiring specific skills and techniques and less emphasis on moral education. 8

9.  Although the IT boom has given rise to an expanse of information there is a lot of information that is useless and meaningless causing people to be pre-occupied with trivia.  Double standards are present in the human rights aspect of the present world where they are used as part of Western governments’ foreign policy but only when it suits them.  Globalization has internationalized crime of all kinds.  Like crime, disease is more rampant throughout the world making the spread difficult to control. 9