explain the effects of globalization on bihar
Answers
Explanation:
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
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Explanation:
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