A Review Of Inequality And Globalization Case Studies Economics Essay

A Review Of Inequality And Globalization Case Studies Economics Essay Globalization is defined as the worldwide movement toward economic, financial, trade, and communications integration according to www.businessdictionary.com. Globalization has been evolving for thousands of years; countries have been buying and selling goods to each other from great distances since the Middle Ages. The recent trend of globalization has been motivated by policies that have opened economies both domestically and internationally. Technology has been another driving factor for globalization. Information Technology has given the world a means of pursuing economic opportunities. There are multiple issues that have arisen due to the globalization of markets from around the world. International trade and transport are hindered by complicated, lengthy and frequently altered procedures and documentation, different requirements in different countries, duplicated inspections, high charges, the lack of effective interagency coordination and cooperation among ministries and agenc ies involved in trade and transport facilitation, overlapping and conflicting conventions for trade and transport facilitation and the absence of effective information and communication technology applications for trade and transport facilitation. These situations create high costs in trade transactions and delays in the cross border movement of goods and services. Globalization has caused the conditions of inequality and discrimination to deteriorate. Women in society have seen a significant impact as a result of globalization. A demand for cheap labor, combined with a loss of jobs held by men which reduced the customary family income has lead to an increase is the number of women in the labor market. Women who either cannot find factory work or whose family situation prevents them from working in a factory, have had to seek work in the informal sector under some of the worse labor conditions in existence. This had lead to inferior quality labor opportunities and puts underemployme nt just as big a problem as open unemployment. â€Å"Labour market deregulation has been an important issue that has arisen. Formal regulations have been eroded or abandoned by legislative means; and implicit deregulation, whereby remaining regulations have been made less effective through inadequate implementation or systematic bypassing. Such deregulation has been based on the belief that excessive government intervention in labor markets – through such measures as public sector wage and employment policies, minimum wage fixing, employment security rules – is a serious impediment to adjustment and should therefore, be removed or relaxed. Deregulation might mean more employment for women, but the danger is that such employment would tend to be on less favorable terms. The question is whether the market can be left almost entirely to determine the price of female labor and the conditions of female employment† (Lin, 1999, p19-20). However, the biggest issue arisi ng from globalization appears to be in human rights violations. The enjoyment of fundamental aspects of the right to life, freedom from cruel, inhuman or degrading treatment, freedom from servitude, the right to equality and non-discrimination, the right to an adequate standard of living (including the right to adequate food, clothing and housing), and the right to work accompanied by the right to just and fair conditions of labor, There is the concern that countries cannot fulfill their international human rights obligations.