Fair Globalization

1. What do you understand by “Fair Globalization”?

Globalization is said to be fair when it creates equal and fair possibilities for every producer countrywide. These producers could be anyone operating either at small or the large level. Fair globalization ensures that the benefits arising out of its implementation incorporates welfare of everyone.

2. What is meant by trade barriers? And how trade barriers are related to globalization? 

As the name suggests, trade barriers like import quota, tax on imports are basically the barriers or the restrictions being enforced by any government to stop any of the trade entering to the country from the countries outside. The purpose of enforcing trade barrier is nothing but to increase the prices of the imports so that only those who can afford actually purchase them from outside the country. 

Trade barriers and globalization have an indirect relation with each other that is globalization implies free trade areas i.e. lifting trade barriers from the country. Government can adjust the trade barriers when it comes to protect the small producers of the country.

3. Explain WTO.

WTO stands for World Trade Organization, an organization which is responsible to ensure free and fair trade practices nationwide. This initiative was taken with the purpose to make the international trade more liberalized. All the rules and regulations in regard to international trade are made by WTO. All the developed and developing countries have to follow the rules made by the organization. WTO is also responsible for removing trade barriers to allow free trade.

4. How can the government ensure fair globalization?

Government ensures fair globalisation to it’s people by ensuring labour laws of country followed so that the workers are not exploited, supporting small producers to improve their performances so that they remain relevant against the competition of MNCs.

5. How can government solve the problem of globalization?

By providing better education, apprenticeships, career training and less rigidness for labour markets.

Fair Globalization: Fair Globalization means equal and fair opportunities for all the economies nationwide. Fair Globalization makes sure that it includes the welfare of all. It should not only benefit the richer and more powerful section of the country but should benefit each and everyone to call it a healthy and fair globalization. 

Units of India have been facing problems like strong competition, least secure jobs, uncertainty in employment and so on which makes it unfair for a specific section of the society. There is a strict need to protect the interests of the ones who are suffering and not favor only the richer section.