In the 17th Non –aligned movement summit which took place in Margarita islands in Venezuela the pertinent issued of globalisation and its effects on the developing nations was the issue discussed as a prerogative. Globalization over the years has produced an un-equal growth in terms of participation and interest in the global market. Along with growth in trade, information and technology an increased interdependence in terms of growth has led to un-even development in many nations.
To support globalisations claim for growth and development a system of developed markets, capital flow and infrastructure need to exist in nations that seek participation in the global order, countries without such ideals therefore tend to fall back in terms of their active participation and cannot insure their interests in the global market . The summit acknowledged the condition and charted out a series of mandates to be presented in the united nations whereby developing countries will be able to acquire the requisite capacities to successfully compete and fully reap the benefits of globalisation.
The first mandate passed was for the United Nations and called for a better co-operation between its own institutions, the world-bank and the Breton woods institution this would ensure co-ordination on economic, financial and technological trade on an international level and ensure equal participation for all nations. The need for a new system of global economic relations was also stressed which would be founded on the principles of accountability, equitable development, justice and sovereignty. The need to take care of special interests of rural nations in issues related to food security and rural employment were also included on the mandate.
A need for a new global human order which aimed at reversing these inequalities which promotes social integration , eradication of poverty and expansion of human resource was acknowledged as a need of the century for the members during the conference. Even countries who have adjusted to the current system of globalisation are effected by financial crises originating elsewhere around the world due to the system of inter-dependence they suffer more than their elite counter-parts it was therefore also important that these issues were acknowledged and discussed on a global level.
The positive effects of globalization were also acknowledged which has contributed to the growth of many nations but many nations in Africa still struggle to enter the stage of world economy it was therefore necessary to accommodate these concerns in the international agenda surrounding globalization.
Developing economies take extra burden due to the changing nature of Inter-national market as can be seen by the recent cashless move taken by India, such clauses are not included in policy decisions and therefore act again developing nations, the fact that economic gap between economies grows starkly with other such events calls for an change in polices , even during the economic meltdown of 2008 developing countries and especially human resource supplied by the country suffered more because they had to face both the meltdown and subsequent change in global banking polices after it.
Many members of the non-alinged movement are being predicted as new global powers of the future. It is therefore necessary that their concerns are addressed as important and are used as agents of change in international economic and cultural polices. The foundation of the whole Non-Alinged movement was laid for moment like these. Founder members like India’s Jawaharlal Nehru knew the future of global sates and wanted to ensure a platform where such issues could be addressed by nations witnessing transformation in the same way.