Relationship between globalisation and population
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Answer:
The Conference on "Globalisation and population trends and their implications for labour markets and inflation" was organised by the BIS on 3 December to honour the late Palle Andersen, who was a leading BIS macroeconomist for over two decades and made many important contributions to these topics. The integration of emerging market economies into global production processes has arguably influenced labour market policies and wage setting behaviour in advanced industrial countries through three main channels. First, increased international labour mobility has helped to ease supply constraints in labour markets. Second, the relocation of production has curtailed the bargaining power of workers and trade unions. Third, the opening of markets for goods and, increasingly, services to international competition has intensified competitive pressures on producers.