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Social project

Topic : Globalisation and the Indian Economy: 

Topic : Globalisation and the Indian Economy Done by : Hari Krishna

GLOBALISATION: 

The term was first employed in a publication entitled Towards New Education in 1930, to denote a holistic view of human experience in education. GLOBALISATION

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It refers to the increasingly global relationships of culture, people and economic activity. Most often, it refers to economics: the global distribution of the production of goods and services, through reduction of barriers to international trade such as tariffs, export fees, and import quotes . Globalization accompanied and allegedly contributed to economic growth in developed and developing countries through increased specialization and the principle of comparative advantage

EFFECTS: 

ECONOMIC POLITICAL CULTURAL ENVIRONMENTAL HEALTH EFFECTS

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Economic International trade in manufactured goods increased more than 100 times (from $95 billion to $12 trillion) between 1955 and 2007 . China's trade with Africa rose sevenfold during 2000–07 alone . Brain drain Opportunities in rich countries attract skilled workers from poor countries, leading to brain drains . For example, nurses from poorer countries come to the US to work.

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Working conditions In some developing countries labour policies provide less protection than in developed countries. One example is the use of sweatshops by manufacturers. Clothing makers such as The Gap and Nike were accused of contracting with factories that used child labor in violation of local and US law.

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I ncome equality World Bank figures indicate that the number of people living on less than $1 per day-the international standard for extreme poverty-dropped from 1.25 billion (29%) in 1990 to 986 million in 2004 (18% of the larger total population)

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The globalization of the job market had positive and negative consequences in developed countries. White-collar workers (engineers, attorneys, scientists, professors, executives, journalists, consultants) were able to compete successfully in the world market and command high wages.

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Consumption Consumer goods exports such as televisions, radios, bicycles, and textiles into the United States, Europe, and Japan feuled the economic expansion of Asian tiger economies .

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Political The United Nations Headquarters in New York City. Globalization reduced the importance of nation states. Sub-state and supra-state institutions such as the European Union, the WTO, the G8 or the International Criminal Court , replace national functions with international agreement.

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Cultural Cultural globalisation has increased cross-cultural contacts but may be accompanied by a decrease in the uniqueness of once-isolated communities. Non-governmental organizations influence public policy across national boundaries, including humanitarian aid and developmental efforts.

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Environmental Environmental challenges such as climate change , cross-boundary water and air pollution and over-fishing of the ocean, require trans-national/global solutions. Since factories in developing countries increased global output and experienced less environmental regulation, globalism substantially increased pollution and impact on water resources.

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Ecological The advent of global environmental challenges that might be solved with international cooperation include climate change, cross-boundary water and air pollution, over-fishing of the ocean, and the spread of invasive species. Since many factories are built in developing countries with less environmental regulation, globalism and free trade may increase pollution and impact on precious fresh water resources.

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Effects of population growth on food supplies With human consumption of seafood having doubled in the last 30 years, seriously depleting multiple seafood fisheries and destroying the marine ecosystem as a result, awareness is prompting steps to be taken to create a more sustainable seafood supply.

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Health Globalization helped to spread some of the deadliest infectious diseases . Starting in Asia, the Black Death killed at least one-third of Europe's population in the 14th century . Even worse devastation was inflicted on the American supercontinent by European arrivals. 90% of the populations of the civilizations of the "New World" such as the Aztec , Maya, and Inca were killed by small pox brought by European colonization. Modern modes of transportation allow more people and products to travel around the world at a faster pace, but they also open the airways to the transcontinental movement of infectious disease vectors .

LIBERALISATION: 

In general, liberalization (or liberalisation ) refers to a relaxation of previous government restrictions, usually in areas of social or economic policy . Removal of restrictions or barriers set up by government on trade. LIBERALISATION

PRIVATISATION: 

Privatization is the incidence or process of transferring ownership of a business, enterprise, agency, public service or property from the public sector (the state or government) to the private sector (businesses that operate for a private profit) or to private non-profit organizations . The term is also used in a quite different sense, to mean government out-sourcing of services to private firms, e.g. functions like revenue collection, law enforcement, and prison management. PRIVATISATION

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The term "privatization" also has been used to describe two unrelated transactions. The first is a buyout, by the majority owner, of all shares of a public corporation or holding company's stock, privatizing a publicly traded stock, and often described as private equity. The second is a demutualization of a mutual organization or cooperative to form a joint stock company

WORLD TRADE ORGANISATION: 

The World Trade Organization ( WTO ) is an organization that intends to supervise and liberalize international trade . The organization officially commenced on January 1, 1995 under the Marrakech Agreement , replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. WORLD TRADE ORGANISATION

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The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments. Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986–1994).

MULTINATIONAL CORPORATION: 

A multinational corporation (MNC) or multinational enterprise (MNE ) is a corporation enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation . MULTINATIONAL CORPORATION

GLOBALISATION:FOREIGN INVESTMENT: 

Financial flows to developing countries take three main forms—investment from foreign private companies, known as private capital flows, remittances from migrant workers, and aid from foreign governments, often called official development assistance (ODA). GLOBALISATION:FOREIGN INVESTMENT