othing more than regionalism.
The concept of globalization is "deceptively simple. The free market must be allowed to function without interference. Governments must remove all barriers that prevent the full and free operation and movement of goods and services, capital, firms and financial institutions across borders" (Mohamad 2002, p. 1). For developing countries, globalization can be both a negative and a positive influence. Many critics believe that the current practices subsumed within globalization have actually been designed by the developed countries to work on behalf of their companies and financial institutions by overcoming "the regulations set up by developing countries to promote their domestic economy and local firms which had been marginalized during colonialism" (Mohamad 2002, p. 1).
Global institutions including the World Bank, the International Monetary Fund (IMF), and the World Trade Organization (WTO) have in the view of some critics including former Malaysian Prime Minister Mahathir
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