Introduction
Globalization can make or break a country. It is the development of rapid integration of countries and that is happening through greater foreign trade and foreign investment. It opens doors to a wide range of employment because of diversity and the unstoppable advancement of technology, for example. The latest wave of economic globalization on manufacturing employment in developing countries is hugely increasing. It revisits the classic debate on the effect of external influences of industrialization in developing countries in the wake of recent changes in the global economy. Thus, economic globalization provides the manufacturing of employment mostly in developing countries.
Wave of Mutilation
The rapid growth in world trade, foreign direct investment and cross-border financial flows is a sign of increased globalization of the world economy (2004). The worldwide wave of economic liberalization driving these changes has raised significant apprehensions about the implications of globalization for employment and job inequality. Unemployment and job inequality will inevitably increase in both industrialized and developing countries; and a country on the verge of globally competing and moving forward could shield themselves from the ill effects of the all-consuming rat race that an emerging global labor market implies. The main manifestation of the increasing “globalization” of the world economy is the kind and level of jobs being offered worldwide. This phenomenon primarily was the result of a worldwide wave of economic liberalization–the lowering of tariff and non-tariff barriers to international trade, the encouragement of foreign investment, and the deregulation of financial markets (2006). In addition, the technological developments have magnified the effects of this liberalization by reducing the costs of transportation and communications, hence expanding the scope and volume of goods and services that can be traded internationally. Moreover, economic liberalization has underpinned the globalization of the world economy, which reflects a radical change in attitudes towards economic policy. In democratic societies, this clearly represents a voluntary shift in political attitudes. The people having a wide range of jobs to choose from have them affected their work attitudes and attitudes politically. But whether democratic or not, the government have embraced the view that freer trade, investment and financial flows will be the most effective means for ensuring material prosperity. At the same time, however, there is a significant current of apprehension over the implications of globalization for employment and income inequality. On the face of it, this is difficult to reconcile with the voluntary shift towards a more open world economy in democratic societies, which are also the only countries where the apprehension is voiced. Nevertheless, this can of course be understood as part of normal democratic debate. There are, besides, some objective grounds for the apprehension. As with all far-reaching economic transformations, globalization generates losses as well as gains (1996).
The Result of Globalization
The problem of increase globalization appeared to have a wide gap between earnings of the skilled and unskilled workers in a country. Many less skilled workers and experienced worker have also lost their jobs as a result of globalization. On the positive side, globalization has led to high employment creation in the informal sector compared with the job lost in the formal sector due to the increasing number of private firms. Most of the jobs created in informal sectors are insecure despite there higher pay compared to wages in the formal sector. There is the need for training and re-training of employee in order to assist them in maintaining their jobs and keep up with the prevailing movement of globalization.
Conclusion
Effective employment policies means that help can be given to those displaced as a result of globalization while at the same time providing greater mobility towards new growth areas for a globally challenged job seeker. Measures specifically targeting people affected by trade liberalization can be useful in certain circumstances, particularly where job losses are rigorous in declining regions. However, such specific measures have their limits and sometimes actually hinder progression. This is why effective public employment services and a sufficient level of unemployment benefits are needed. The argument that globalization, in the long-term and at the end of the day, will benefit to everybody, sounds odd in the ears of someone who has just lost her job because of globalization. The nature of structural change which is accelerated under globalization, is something that destroys and creates jobs, but not in the same location or sector and not for the same workers and increasingly not in the same country, ironically.
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