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Fair Globalization

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Fair Globalization - Lesson Summary

The fruits of globalisation have been unevenly distributed. Those with education, wealth or skill, have benefitted the most from globalisation. They include well-off consumers, MNCs, their suppliers and employees, big Indian companies and IT-enabled industries like call centres.

People who are not so educated, wealthy or skilled in some profession, or those who have had to compete with MNCs have suffered. People suffered owing to globalization include small-scale producers and labour. 

The government can take steps to ensure that the benefits of globalisation reach everyone:
  • Formulate labour laws that are effective and watertight to ensure rights of workers
  • Have policies to protect the interests of the small producers against the MNCs
  • Erect barriers to protect the domestic economy from foreign trade and unfair competition from developed countries.
  • Align with other developing countries to negotiate with WTO to impose trade restrictions like imposition of tariff and quotas.

Apart from just the government, people from various professions also need to come out and raise their voices against unfair globalization and to protect the rights of its small producers and labourers. In the recent past, people have demonstrated against the unfair trade policies that are often encouraged in the name of globalisation. Such demonstrations have managed to influence some changes in the WTO’s policies regarding free trade.

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