GUEST LECTURE Mr.Per Stumle

Topic : Globalization and its effects on Indian and Swedish economy, a youth perspective” Speaker : Mr.Per Stumle October 08

Globalization is the new buzzword that has come to dominate the world since the nineties. This process is a combination of economic, technological, sociocultural and political forces. Globalization is often used to refer to economic globalization, that is, integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology.

Mr. Stumle talked about Sweden, a country with a population less than that of any Indian cities. He talked about the impact of globalisation on his country both positively and negatively when like any other economies of its scale opened its doors to the outside world. Sweden is a country that has been dependent on foreign trade for its revenue. He even told that 1950 to 1970 turned out to be the golden years for Swedish history owning to high employment rates and expanding exports , Sweden even recorded the world’s 3rd largest GDP per capita in 1973 due to globalisation. Mr. Stumle, in the end, had a discussion with the students what they felt about the process of globalisation in India. It was a learning experience to understand that as the world economies today become further integrated with each other, even a country like India, which has probably not even seen two complete decades of globalisation, today, stands in a position to intimidate the progress of a country like Sweden that has flourished in globalisation for more than half a century.