Question

Elaborate the problem created by globalisation. Suggest some

measures to solue those problems.
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Answer 1

Explanation:

Globalization presents challenges for developed countries as well. It has been blamed for high unemployment in Europe and the stagnation of real wages in the United States. But increased competition from imports is at most a secondary explanation for the decline in real wages of less skilled American workers.

Globalisation for small producers and workers:

(i) It has led to widening of income inequalities among various countries.

(ii) Workers jobs are no longer secure.

(iii) Expansion of unorganized sector.

(iv) Small manufacturers have been hit hard due to severe competition.