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Indians embracing globalisation, West low on enthusiasm
Meenakshi Ganjoo in Silicon Valley
 
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October 05, 2007 10:35 IST

Indians and Chinese have embraced economic globalisation, but the enthusiasm for free market economies and global commerce is waning in the West, especially in the United States, according to new poll released on Friday.

While 89 per cent of Indians and 91 per cent of Chinese support foreign trade, the figure is only 59 per cent in the world's largest economy, the US, the Pew Global Attitudes survey of more than 45,000 people in 47 countries has found.

While in the two Asian giants the public support for foreign trade has remained almost same since 2002, in America it has seen a sharp decline since 2002, when 78 per cent believed it was having a positive impact.

Interestingly, when it comes to views about multinational corporations the two rapidly expanding Asian economies of China and India are experiencing different trends.

The Chinese are now less likely to believe foreign corporations are helping their country and while more and more Indians are seeing a positive impact.

India's South Asian neighbours -- Bangladesh and Pakistan -- also have become substantially more welcoming to foreign companies over the last five years.

In India, 73 per cent of the public believes foreign companies are having positive impact on the country, while in the US only 45 percent believe foreign companies are good and that people are better off in free market economies. 

Overwhelmingly, the surveyed people see the benefits of increasing global commerce and free market economies. In all the 47 nations included in the survey, large majorities believe that international trade is benefiting their countries.

For the most part, the multinational corporations that dominate global commerce receive favorable ratings. The survey found that support for free markets has increased notably over the past five years in Latin American and Eastern European nations, where increased satisfaction with income and perceptions of personal progress are linked to higher per capita incomes.

However, there is widespread concern among the public about the economic inequality, threat to their culture and environment posed by globalisation.

In nearly every country surveyed, people worry about losing their traditional culture and national identities, and they feel their way of life needs protection against foreign influences.

Importantly, the poll finds widespread concerns about immigration. Moreover, there is a strong link between immigration fears and concerns about threats to a country's culture and traditions.

Those who worry the most about immigration also tend to see the greatest need for protecting traditional ways of life against foreign influences.

Although Western publics remain concerned about immigration, they generally are less likely to back tighter controls today than they were five years ago, despite heated controversies over the issue in both Europe and the United
States over the last few years.


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