History, asked by gaurav8055, 1 year ago

there is no effect of globalization on labour movement

Answers

Answered by Riya940
5
We are very far from a global labor market, as evidenced by a wide disparity in wages. One study finds that the median wage for jobs in advanced countries is two and a half times the wage level for jobs with similar skill levels in the most advanced developing countries, and five times the level in low-income countries. In 2008, a Chinese manufacturing worker earned about one-twentieth the wage level of a U.S. manufacturing worker; a Mexican, one-sixth.
That gap, however, is narrowing in part due to globalization. From 1999 to 2009 (the year of the worst global recession since the 1930s), average real wages rose by about 0.5 percent per year in advanced countries, compared to about 1.5 percent in Africa and Latin America, and almost 8 percent in developing Asia.
Globalization is far from being the whole story behind the narrowing gaps. If wage convergence were principally the result of an integrating global labor market, one would see wages in Africa, the poorest region, rise much faster than the others. But differences in domestic factors, such as the business climate, governance, and education, also play a vital role in determining wage growth.

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