Roles Played by the Less Developed States in Era of Globalization (Essay Sample)

Roles Played By Less Developed States In The Era Of Globalization
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Introduction
Less developed states want to have high-value and a more developed economy and for them to realize this is through having a well-educated workforce and embrace globalization. Creating an excellent skilled economy leads to economic development, reduction of inequalities in income distribution and achievement of cohesion in social setup. These policy considerations work on the perspectives of a skilled economy, which allows use of ideas that are very innovative and use technical personnel to hold on key to competitive new global challenge. The case for India and China producing technology, high-value added products has motivated less developed countries to re-evaluate the issue of global economic challenge.
Dimensions of Globalization
Globalization is an issue of multi-dimensional transformational process that has diverse interpretations and meanings in an economic and non-economic perspective. Some economists argue that it you can reverse globalization while others view globalization as a threat to the country’s economy. Less developed countries should view globalization in the first perspective that it is inevitable and irreversible for the purpose of prospering and surviving in an increasingly competitive and integrated global economy. Globalization has effects on the distribution of income between countries or within a particular country. A country may benefit economically when it is subjected to global changes or it can be negatively affected, especially if the forces of globalization are compelling. It is about the consequences of globalization that the state in the developing country draws mechanisms to repatriate to globalization impacts (Stiglitz, 2012).
The State Should Aim At Generating Employment
A case study in China shows that its unemployment rate has reduced to about 4.3%. The Chinese government decided to create more job opportunities as a counter measure to fight poverty and encourage globalization. Employment creates more National income and therefore the country is able to expand its scope of business within its territory and outside in other countries.
Poor countries like India and China are growing at an increasing rate because they have strong incentives towards innovation (Khalid, 2014). Creating reproductive employment opportunities provide a chance to create innovative minds to come up with products that compete in global market, enabling the smaller economies set aside differences and be able to attain greater opportunities for themselves. Economies in undeveloped countries tend to have adverse impacts that are limiting on the side of unemployment such that more developed countries through the capability can influence greatly employment sector by bringing their workforce in undeveloped countries, hence increasing the rate of unemployment. The government can retaliate by coming up with more reproductive employment opportunities (Stiglitz, 2012).
Offer Social Services That Are Complimentary To Its Dwellers
The government requires meeting the high needs of its social services in the world market. In a global economy, public goods are highly demanded, as the majority in undeveloped countries cannot afford paying for the goods offered to them. China’s economy has progressed positively as the citizens are motivated by the social services provided for them like free medical care and education services. When the undeveloped country comes out with a scheme to offer its citizens with social services, they will be encouraged and will always work towards achieving the countries goals and objectives. Social service improves the welfare of the citizens in a particular country and it is a big indicator for economic development as it helps those that cannot afford to buy those services. Provision of social amenities helps the country to reduce the gap between the rich and the poor as the poor will be able to access free services without being charged. In addition, it helps to eliminate the issue of inequality since it is aimed at equal distribution of social services among the citizens of that particular country (Raworth, 2012).
The Government Should Set A Minimum Wage That Reflects The Majority Of Its Workers’ Needs
States in undeveloped country should aim towards balancing the wages earned by citizens by moving it towards a living wage for all workers. Globalization creates opportunities in countries that are undeveloped through integration into the global economy and therefore to encourage the citizens to embrace globalization the country should strive to ensure that the minimum wage reflect the living wage for all workers. This ensures that the poor in the society benefit from integration and therefore when the resources are distributed equally among the citizens it increases the countries GDP because when given the same opportunities as the rich, the poor will fully utilize on the resources provided to them and therefore they will help increase the country’s national income. Globalization saw the economy of China and India increase with that of China increasing to 44.2% due to increased trade (Corak, 2012).
The state should aim at increasing participation of workers’ representatives in making decisions
Workers understand better the operations of the company they work for and therefore they are able to notice any change that is brought about by globalization both in multinational and national companies. The state should offer them a chance make very important decisions of the company as they are the ones who understand better the impacts of the change and the implications of the decisions made. Giving workers to make decisions of the firm help to solve the issue of inequality, as they are not subjected to harsh decisions that favor those that are well off. Workers decisions are very important as they favor them and therefore help each worker to improve his or her living standard, which in turn increases the country’s GDP. Indonesia has reduced the number of people living in poverty by giving its workers mandate to make company’s decisions, which have worked on the side of workers and helped solve the issue of poverty. Therefore, the Indonesian government has managed to reduce poverty numbers to 1.7 million people during the time of globalization (Milanovic, 2009).
Develop action plans to tackle forced labor in workplaces within their borders
Globalization causes sources labor, especially when it is accompanied with the migration of people. The country needs to develop a comprehensive plan to help tackle the issue of forced labor since it causes suffering among the citizens, which reduces their productivity as they disturbed mentally with the psychological torture they experience from the process. There is no transparency in forced labor since the revenue generated from forced labor cannot be accounted for because the individuals carrying the operation do not want to be noticed by the government since it is an illegal business. The use of Chinese labor in business ventures abroad is a contentious issue since the labor provides abroad can be limiting such that the Chinese origins suffer the impact of forced labor of forced trade. This lowers the state’s net collection of revenue. The action plan to be developed should include the mechanisms that should be used to address the issue of forced labor, which leads to a backward economic increase (Lauder, and P 2006).
Implement policies which increase women’s participation in state development program
One of the most disturbing and oldest types of inequality is gender inequality, which implies that men and women are not given the same benefits they are supposed to derive from the economy. There is similarity between gender discrimination and inequality in income distribution. Globalization is accompanied by economic inequality and therefore it will also result to issues of gender inequality since they go hand in hand. The government should ensure that there is equal participation of women and men in economic development and ensure that they all access to and have control over wealth and income created. Male is well represented compared to his female counterparts. The study of 2500 people who attended the 2014 world economic forum showed that 15% were men women. To strike a balance the state in undeveloped country should give equal opportunity to its citizens irrespective of their gender. This will ensure that a country’s resources are well distributed to all people and therefore lead to economic development. A case study of China shows that women who hold managerial position are more innovative than the men are more innovative than their male counterparts are and therefore when there is equal participation the economy of the country will develop due the additional income created by the women (Milanovic, 2009).
Reason Behind why the Country Should Implement Laws That Make It Compulsory
Policies and regulations protect the country from negative outcomes that are brought about by globalization. The policies set should determine the rate of economic growth and reduce the effect of unemployment either through job creation or through building of more manufacturing industries. The policies also should guide the size of external business, in the country and regulates their mode of conduct such that they should help to improve the economy and not to influence it backwards. They should be geared towards attainment of high economic development and get rid of those that are disadvantaged. Policies can also be the in form of who makes which decisions and the proportion to which each gender is represented in work so that there is no overrepresentation of a certain gender. There is a myth that helps the ...