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A Fair Globalization: Creating Opportunities For All by World Commission on the Social Dimension of Globalization

By World Commission on the Social Dimension of Globalization

It is a groundbreaking record urging that development a good and inclusive globalization develop into a global precedence. Calling for an "urgent reconsider" of present regulations and associations of world governance, the file makes an attempt to wreck the present deadlock by means of concentrating on the troubles and aspirations of individuals and at the how you can greater harness the opportunity of globalization itself. This document used to be compiled by way of the area fee at the Social Dimensions of Globalization, co-chaired through the Presidents of Finland and Tanzania, and whose contributors contain a Nobel Economics Laureate, parliamentarians, social and monetary specialists and representatives of commercial and multinational agencies, geared up labour, academia and civil society. This widely consultant team has positioned forth, via this record, the 1st systematic try and care for social dimensions of globalization. between its prescriptions for attaining a good and inclusive globalization, the record proposes a chain of coordinated measures throughout a vast entrance to enhance governance and responsibility at either nationwide and overseas degrees. those comprise fairer principles for foreign exchange, funding, finance and migration, which take account of all pursuits, rights and tasks; measures to advertise middle labour criteria and a minimal point of social safety within the worldwide economic system; and new efforts to mobilize overseas assets to elevate features and meet the Millennium improvement pursuits (MDGs).

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Extra resources for A Fair Globalization: Creating Opportunities For All

Sample text

We were sleeping on the shore when a big wave came”, said a participant in the dialogue in Egypt. Globalization could be frightening, stimulating, overwhelming, destructive or creative, depending on one’s point of view. Kaleidoscope of opinions – but much common ground 67. There was a widespread sense of instability and insecurity. In the Costa Rica dialogue a participant said, “There is a growing feeling that we live in a world highly vulnerable to changes we cannot control; a growing sense of fragility among ordinary people, countries and entire regions”.

Technology 146. The industrialized countries were the source of the technological revolution that facilitated globalization but that revolution has also had ripple effects on the rest of the global economy. At one level, the new technology changed international comparative advantage by making knowledge an important factor of production. The knowledge-intensive and high-tech industries are the fastestgrowing sectors in the global economy and successful economic development will eventually require that countries become able to enter and compete in these sectors.

However, from the early 1980s onwards, the extent of trade liberalization, especially in the developing countries, began to accelerate (figure 2). 138. This trade expansion did not occur uniformly across all countries, with the industrialized countries and a group of 12 developing countries accounting for the lion’s share. In contrast, the majority of developing countries did not experience significant trade expansion (figure 3). Indeed, most of the LeastDeveloped Countries (LDCs), a group that includes most of the countries in subSaharan Africa, experienced a proportional decline in their share of world markets – despite the fact that many of these countries had implemented trade liberalization measures.

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