Globalization and its effects on Lebanon

Abstract

This thesis critically evaluates the impact of globalization on different issue areas in the world. It is intended to present a picture of the outcome of the globalization process from the perspectives of the developed and developing countries. It starts with a historical background on globalization, a definition of globalization, and a discussion of its main features and aspects. These aspects are: economic, financial, and environmental. One major focus of this study is on the latest financial turmoil that hit East Asia in the 1990s. The effects of volatile capital flows and the negative consequences entailed by them are evaluated along with how the IMF and other institutions function to help in such financial situations. The impact of the WTO regulations and their rulings are also discussed, and so the environmental friendly claims, which maybe, in reality, harmful to consumers. Lebanon is taken as a case study where its economy is linked to globalization. I concentrate on presenting and analyzing the challenges and the opportunities that could facilitate or hinder Lebanon's embracement of globalization. The thesis ends by offering recommendations that would enhance Lebanon's position in this new global era.