Question

Do you agree that Globalization has led to inequalities in various sections of Indian

Society? ​

Answer 1

Answer:

One way globalisation can increase inequality is through the effects of increasing specialisation and trade. A rise in trade-to-GDP ratios signifies an increase in the volume and value of trade between countries and regions. Although trade based on comparative advantage has the potential to stimulate economic growth and lift per capita incomes, it can also lead to a rise in relative poverty. For example, if a country can now import cheaper steel from elsewhere, then there will be a contraction in domestic supply and a fall in employment and real incomes in that industry. This can lead to higher rates of structural unemployment and a decline in real living standards. Real wages come under downward pressure and inequality can increase. We see this in regions of the UK for example where de-industrialisation has taken place leading to much higher rates of long-term unemployment and a worsening of economic and social deprivation. In the United States, the share of national income claimed by the top 1% of the population climbed from 11% in 1980 to 20% in 2014, compared to just 13% for the entire bottom half of the population.

Explanation:

so I do agree in the above situation ..

Sana here !

hope it helps!

Answer 2

Yes, Globalization has led to inequalities in various sections of Indian Society

Explanation:

• Globalization in a comparatively prosperous world will exacerbate income disparities by increasing imports of imported goods from developed countries with mainly low-skilled labour. It opens up, by comparison, more business prospects in high-tech firms that need more skilled jobs. These two factors will broaden the wage gap between highly skilled and poorly qualified employees. The wages of certain parts of the population are rising by globalisation. This is in the hi-tech manufacturing sector and the services sector in highly developed countries. The highly trained, collegiate workers dominate these industries. These workers come from the richest segments of the population. Around the same time, the poorer, less-educated parts of society are facing increased pressure from workers in lower-cost nations for unskilled labor. They must keep their wages low in order to compete. Globalization thus decreases the incomes of the poorest segments of a developing nation, increases unemployment and aggravates the problems of inequalities of poorer segments.
• Change in technology can likely also raise wage inequality. When computers and automation replace them in the manufacturing cycle,  typists, assembly line staff, or fewer secretaries, are needed. Instead, the need for resources from, say, engineers that can operate such machines will expand through emerging technologies. While globalisation promotes the notion that technological change and productivity increase leads to higher wages and jobs, and better working conditions, these technological changes have caused more job losses in some developing nations and have contributed to decreases in job growth rates in the last few years.
• Globalization paves the way for "global redistribution" of economic wealth, leading to economically prosperous nations' supremacy over developing countries. Globalization in some of the industrialized and underdeveloped nations in the world has shown the process in reducing poverty and therefore increases the problem of inequality.
• Many businesses can use offshoring to their benefit with less constraints at national level. Also if they retain local employment, they may be used to justify lower salary at home by moving workers to another, cheaper area outside of the country. The overall outcome of attempts to abolish borders is a rise in incomes in the developing world, but a decline in developed countries. If commodity prices do not drop significantly many households will see their living standards decline.
• In developing nations like India & underdeveloped nations of the world, globalization poses a challenge to agriculture as well. In line with the WTO trading rules, the agricultural commodities market of underdeveloped and developing nations will be flooded farm goods from nations at a much lower rate than the indigenous agricultural produce, contributing to a death blow to several farmers.
• Globalization is associated with growing wealth & income  inequalities. The rising rural-urban divisions between countries like China , India and Brazil are evidence of this. This results in social and political tension &  financial instability which constrains growth. Most of the world's poorest people have little access to essential infrastructure and public goods. They are excluded from the benefits.

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5 negative effects of Globalisation - Brainly.in

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