The struggle for a fair globalization - Concepts - Chapter 4 Class 10 Economics - Globalisation and the Indian Economy - Economics

THE STRUGGLE FOR A FAIR GLOBALIZATION 

• Fair globalization would offer opportunities for everybody while also ensuring that the advantages of globalization are more evenly distributed.
• The government can play a s ignificant role in making the process of globalization fair for everyone.
• Steps that government should take to make globalization fair are:
• Governmen t must safeguard the interests of all citizens , not just those who are wealthy and powerful. For example, the government can ensure that labor rules are followed and that workers receive adequate compensation.
• Government should encourage small producers to increase their output until they are capable of competing.
•  The government may impose trade and investment barriers in their favor .
• Government can also align with other developing countries with similar interests to fight against the domination of developed countries in the WTO.
• Apart from the government, people also play an important role in the struggle for fair globalization
• Massive campaigns and r epresentation by people’s organizations have influenced important decisions relating to trade and investments at the WTO .