Impact of globalization has not been uniform among producers and workers support the statement with five points
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Globalization is the free movement of goods, services and people across the world in a seamless and integrated manner. It has converted the world into a global village where the exchange has become very easy.
However, it is true that the impact of globalization has not been uniform.
This can be explained through the following points:-
i) The impact of globalization has not been uniform among producers and workers. Producers have the option of now being able to shift their production from one country to
another to cut down costs. However, the same cannot be said about the workers as their options are limited.
ii) Producers often outsource or subcontract the work to countries where production is cheaper and raw material is available.
iii) Globalization has some negative impacts on employment and real wages. Due to ushering in of new technologies, output increases, but employment opportunities are not much, especially in rural areas, where over 60% of the population lives.
iv) Globalization is mainly beneficial to ‘large capitalists, industries and large companies. Consequently, it increases the concentration of economic power and leads to inequalities.
v) Globalization ties countries together so that if one country collapses, the collapse is likely to ripple through the system, pulling many other countries with it.
Globalization has its own pros and cons. We have reached a stage where discarding the concept of globalization may not be possible at all. Therefore, the strategy should be to find solutions to the threats it poses to us so that we can work towards a better, fulfilling future.