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Supplement
H o n g K o n g C h r i s t i a n

Council’s Understanding and

Position on Globalization

The Context:
Globalization is most certainly an important issue and needs our prompt attention, regardless of our stances on it, be they
affirmative or negative.
On the whole, despite its benefits and advantages, globalization indeed brings about polarization between the rich and
the poor, which is common and serious even in rich countries and districts which have profited from globalization. Globaliza-
tion also brings about the problem of poverty which impacts all people for many generations, including those from affluent
areas, making globalization an issue we cannot afford to ignore.
The discussion in the world-wide church about the problem is characterized by divergent views. On the one hand are
Christians in countries whose economies are benefiting from the process of globalization. They are mostly found in the North
and include Hong Kong. On the other hand are Christians in countries of the South who view globalization as a process
destroying their economies and increasing poverty. An intensive dialogue between the two is necessary in order to avoid
unhelpful generalizations and to establish a standpoint consistent with Christian beliefs. However, churches in Hong Kong in
general do not believe it is urgent to tackle the issue of globalization.
Problems caused by globalization:

In general, globalization involves not only the economic arena, but also the political, social and cultural aspects. However
its impacts on the economy are the most direct and enormous. Therefore, investigation into and evaluation on economic
globalization will better reveal other impacts which globalization has posed on the political, social and cultural areas.
The World Council of Churches (WCC) further points out that economic power serves as an influential and robust
driving force for a new form of hegemony, posing a threat comparable to the devastating power of political colonialism.
Economic power is a latent yet robust ideology, underlain by the assumption that market liberalization serves as the best
guarantee for the betterment of human lives.
The realization of economic globalization is mainly induced by institutions such as the World Bank and the World Trade
Organization, against a backdrop of a knowledge-based economy formed by pioneering communicative technologies. Such

institutions5duties mainly include the fight for market liberalization, rescinding economic regulatory regulations and
privatization, with the ultimate goal of pushing for international free trade.
Free trade is underlain by the vision that each and every district and country would be able to satisfy and fulfill its needs,
thus benefiting all people. Nevertheless, the reality is power and wealth are now concentrated in certain countries as well as
multinational corporations in charge of two-thirds of global trade volume. In brief, the current phenomenon is caused by the
following key factors:
1. Liberalization of financial markets
Results in free flows of capital which are often unconnected to other economic activities, especially local and indig­
enous ones, bringing about much harm. Huge amounts of capital flow bring much fluctuation in the global economy. The
Asian economic crisis in the late 1990s is such an example.

Flows of capital across national borders often substantially deplete and pollute domestic natural resources, imposing
devastating impacts on nature, despite their benefits that productive economic activities are now transferable to places where
cheap labor, cheap land and other resources are available.

2. Privatization
The purpose of privatization is to enhance efficiency and effectiveness, offering better services to the general public.
However, the ownership of public organizations is transferred to private corporations. The latter is no longer accountable to
the general public, but to their shareholders, thus making outstanding business performance and profits their goal. As a result,
local communities become vulnerable to exploitation as they now lose control over fundamental services.
The government is responsible to take care of its people and redistribute social resources. Therefore, the government
must not give up supervising governmental departments which are now privatized. In addition, privatization is not suitable

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