SAVREMENA GLOBALIZACIJA I BIH
CONTEMPORARY GLOBALIZATION AND BOSNIA AND HERZEGOVINA

Summary/Abstract: Globalization is indeed a global process, and no one can remain untouched by it, particularly not small countries. The challenge is how to become part of it on the most favourable terms; how can a small country like Bosnia and Herzegovina become part of the process. This calls for extensive study and investigation, but the route to be taken can be indicated, at least. In accepting globalization, one should consider the privileges and benefits it offers, particularly through the usances of the World Trade Organization for developing countries. A clear development policy is required, with the emphasis on the comparative advantages of Bosnia and Herzegovina and on a structure for the economy appropriate to the global market. A subtle analysis of the laws of globalization and the local comparative opportunities for Bosnia and Herzegovina, and a thoroughly well-prepared economic policy in regard to the specific circumstances of Bosnia and Herzegovina, will enable us to find ways to involve Bosnia and Herzegovina in globalization trends. Some transition countries have already achieved this; why should Bosnia and Herzegovina not do so too.

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