Globalisation

The optimists say that globalisation provides great opportunities for people around the world - the opportunity to trade and raise capital across borders, the opportunity to acquire knowledge and information throughout the world. They talk of a rosy new future in which we will all be winners.

The sceptics, on the other hand, claim that globalisation is a specific economic strategy pursued by the countries of the industrialised world and the transnational corporations (TNCs) whose interests they represent. The core of this strategy is to ensure open, unregulated access to the world's markets - the model of 'free trade' liberalisation which allows TNCs to sweep aside smaller local competitors irrespective of social or environmental cost. Developing countries are 'opened up' for exploitation, and the profits which they could have used for their own development are whisked away to the bank accounts of TNC shareholders overseas. Read Globalization Good or Bad?

Rich get richer - While there are individuals who have amassed great wealth from the liberalisation of the world economy, the majority have seen little benefit. Universally, globalisation has placed great pressure on working people, as national governments force down labour standards in an attempt to attract foreign investment with the promise of low costs. Internationally, while some newly industrialised countries have increased export earnings as a result of liberalised global trade, poorer nations have been completely excluded from the feast. It is now universally acknowledged that globalisation has both winners and losers, and that the losers will be the poor.

Price Make-up of a $ 100 Sport Shoe - MADE IN INDONESIA

Read the text of LIVING WAGES PROJECT on Nike Track Record.

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