Globalisation with local characteristics
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There is general agreement among elites that globalisation benefits national economies by expanding the global pie. In several analyses, this occurs because globalisation promotes foreign direct investment, provides a stimulus for technological innovation because of greater competition, and creates economies of scale that lower costs and prices.
globalisation can favour rich nations and people, deepening inequality among and within nations.
particularly in countries and among workers whose economic systems and work skills may not be sufficiently strong to protect them from economic displacement. .... in the United States, disgruntled blue-collar workers provided a solid base for the political ascendancy of President Donald Trump and his promise to protect American jobs. At least some of the impetus for Brexit likewise stemmed from a popular desire to take back British economic sovereignty from the European Union...
The danger lies in throwing the baby out with the bathwater. Globalisation per se is not at fault but that some systems fail to equip their citizens for its challenges and therefore deprive them of the opportunity to benefit from it
The state must help them make those adjustments, through skills upgrading schemes for example, and not leave them to fend for themselves.
Qn: Is globalisation to be welcomed or feared today? (Cam. 2019)
If can't access above link, click HERE
There is general agreement among elites that globalisation benefits national economies by expanding the global pie. In several analyses, this occurs because globalisation promotes foreign direct investment, provides a stimulus for technological innovation because of greater competition, and creates economies of scale that lower costs and prices.
globalisation can favour rich nations and people, deepening inequality among and within nations.
particularly in countries and among workers whose economic systems and work skills may not be sufficiently strong to protect them from economic displacement. .... in the United States, disgruntled blue-collar workers provided a solid base for the political ascendancy of President Donald Trump and his promise to protect American jobs. At least some of the impetus for Brexit likewise stemmed from a popular desire to take back British economic sovereignty from the European Union...
The danger lies in throwing the baby out with the bathwater. Globalisation per se is not at fault but that some systems fail to equip their citizens for its challenges and therefore deprive them of the opportunity to benefit from it
The state must help them make those adjustments, through skills upgrading schemes for example, and not leave them to fend for themselves.
Qn: Is globalisation to be welcomed or feared today? (Cam. 2019)
posted by Dark Shadow | 12:21 PM
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