Social Sciences, asked by aahil6alam, 3 months ago

explain the effects of globalization on bihar

Answers

Answered by sapnagiriswami

Answer:

Definition of Globalization :- Its a process(not an outcome) characterized by increasing global Interconnections by gradual removal of barriers to trade and investment between nation and higher economic efficiency through competitiveness.

Various economic, political, social and cultural effects of globalization are as follows:-

Economic:-

Breaking down of national economic barriers

International spread of Trade, Financial and productive activities

Growing power of transnational cooperation and International financial Institutions(WTO, IMF)Through the process of:-

1- Liberalization- relaxation of restrictions, reduction in role of state in economic activities,decline in role of govt in key industries, social and infrastructural sector.

2- Privatization- Public offering of shares and private sale of shares, entry of private sector in public sector and sale of govt enterprises.

3- FDI

4- International regulatory bodies(WTO,IMF)

5- MNC’s

6- Infrastructural development

7- Expansion of information and communication technology and birth of information age.

8- Outsourcing of services- ie BPO and Call Centres.

9- Trade related intellectual property rights(TRIPS)- product based patent rather than process based.

Social effects:-

Withdrawal of National govt from social sectors ie declining share of govt in public spending, reducing social benefits for worker(social dumping,pension cuts,subsidies reduction)

Labor reforms and deteriorating Labor welfare:-

Labour Market deregulation:-

Minimum wage fixing

Employment security

Modifying tax regulation

Relaxed standards of security

Increased Mechanization demands skilled labour and thus loss of job for unskilled labour

Loss of jobs for traditional workers for example bihar silk workers due to imported Chinese- Korean silk

Feminism of Labour ie increased women participation specially in soft industries

Trickle down theory of poverty reduction has limited success and in agricultural nations poverty has infect increased.

Unsustainable development practices such as:- excessive use of fertilizers, irrigation, fish trawling by mnc’s(Protein flight ),Exploitation of natural resources by MNC’s.

Migration and urbanization have lead to problem of slums

Commercialization of indigenous knowledge:- patenting

Rising inequality in wealth concentration

Cultural:-

Increased pace of cultural penetration

Globalization of culture

Development of hybrid culture

Resurgence of cultural nationalism ie shivsena opposing valentine day

Political:-

Globalization of National Policies- Influenced by International agencies

Reducing economic role of govt

Political lobbying