British or Chinese and no longer appropriate to refer to economies as being German or Canadian but more appropriate to refer to a global economy, in which interdependent and interrelated economic relationships have developed, spearheaded by improvements in transport and telecommunications. It is this very understanding of globalisation that we read about and hear about. This understanding of globalisation fits into the set of literature referred to as the 'first wave' and is associated with US truimphalists and business schools theorists. More importantly, it reciprocates the understanding of globalisation by the international financial institutions, such as the International Monetary Fund (IMF) and the World Bank (WB), which are seen as the agents of globalisation and have exported globalisation to all regions of the world through economic reform programs, known as Structural Adjustment Programs (SAP). From the above not only an understanding of globalisation should have materialised but also the forces that underpin, shape and direct globalisation should have become apparent. Globalisation will continue to be prevalent, making it imperative that the true nature of this phenomenon is understood.

The Khilafah existed for 1400 years and during this longevity it was dominant politically, economically and militarily. Even during the end of the Uthmani Khilafah, people still enjoyed economic prosperity in direct contrast to what the Muslims face today. For this period of time, the Khilafah was at the centre of trade and investment, with many important trade routes resulting in traders from all around the globe passing through the Khilafah. The Uthmani Khilafah favoured international trade and the Muslims allowed European traders access to its ports, as long as custom duties were paid. Substantial economic activity was witnessed under the Khilafah as the Khilafah was at the crossroads to Africa, Asia and Europe. Places such as Indonesia and Central Asia were opened up to Islam as a result of Da'wah given by traders whilst on journeys and whilst engaged in trade. Therefore the Khilafah was never isolated but was central to economic developments as traders had to come to the Khilafah and the Khilafah was able to protect the resources and wealth of the Ummah in contrast to today where the wealth of the Ummah is stolen from below her feet.

The question posed as outlined in the introduction is how can the Khilafah compete in this new context of globalisation? This question is posed by those who believe that the Khilafah will return but cannot quite appreciate how it can function in the modern world when it is based on Islamic texts revealed 1400 years ago. This question can be answered by giving an example that will seriously dent the claims that a nation cannot survive without globalisation

Some topics in this essay:
Programs SAP, Wall Street, China Firstly, Khilafah Khilafah, IMF WB, Muslims Islam, Burkina Faso, Latin America, South Asia, Ummah Khilafah, understanding globalisation, developing world, economic policies, imf wb, globalisation globalisation, globalisation led, water privatisation, global economy, produce efficiently, economic ruin, remove barriers trade, globalisation led economic, nation survive globalisation, imf wb continue, development developing world,