Question

Globalization has not been beneficial to and fair for all. what steps can be taken to make globalization fair and beneficial for all

Answer 1

   Globalization means opening a country's market for trading, business and establishment of companies and industries by foreign organizations. The disadvantage is that local industries in that market lose share. The possible advantage is the availability of world class products and services. Perhaps more employment and increase in economy. Also, there is reduction of gap between latest world technologies and locally followed one.

  The disadvantages are that some local companies may be closed. Most of the profit goes out of the country. The country loses its manpower to another side.

   When global companies come to participate, they look for expertise, basic infrastructure, tax benefits, process simplification, high profit, high quality people and so on. 

   Thus internationally Global Fairness Initiatives have been taken. The good attributes of globalization are suggested and monitored regularly.

   Fairness promotes equitable and sustainable approach for development in the economy of the country. Globalization is fair, when the stakeholders are all equally benefited. Stakeholders are: people, government, global company, financiers, other private companies, market, economy, and workers.

1. Development of workers and employees, by raising their salaries and enabling them to raise their standard of living. Enabling them to live a better life in a better world.
      This needs good policies of the global company.

2. Balanced public policy of the government. It should enhance opportunities for creating employment.
     The policy needs to enhance equal access to the markets by the concerned parties.

3. The global companies should partner with locally established vendors and manufacturers to take the advantage of their products and services. These should not be thrown out of jobs and business, which results in unemployment, poverty and revolt.

4. Using International networking to benefit the growth in objectives of fairness in globalization. But not for exploitation of the local economy.

5. The global companies should not manipulate markets to destabilize the economy. The government and observers should be vigilant. Such incidents did happen before.

Additionally:

   Invest in the local women producers and manufacturers. Enhance the skills of workforce. Give access to a high value market for the working class, resulting in raising their lifestyle. Enabling the people of the country to better quality water and health care that they can afford.

  Ex-President of France, Jacque Chiraq said "Fairness in globalization is to discover and steer ourselves towards common future that fulfil ideals of democracy, justice, wealth, our core values and happiness."