To national benefits, businesses and individuals can benefits from favorable free trade policies. It also meant to eliminate unfair barriers to global commerce and raise the economy in developed and developing nations alike. Both apparent and feared repercussions can create a grave mistrust on the part of workers who believe their country is giving foreign
Trade liberalization is expected to affect PGDP positively. The investment level is also included in the model as it lead to increase PGDP through the multiplier effect. Employment Level It is defined as the total labor force which is employed in the country and expressed as a percentage of its working population. Here an individual who age’s 15 years and older is considered as working age population. 7 The employment level is expected to be positively affected by trade liberalization due to ease access to cheap raw material and capital machinery, which promote development opportunities in a country.
Globalization and Labor Sweatshop Globalization is indeed a significant effect on the system's employment. This is because globalization has increased the integration of the world, especially in the economic field that directly participate impact on the flow of capital and labor. Capital and labor flows have strong linkages with each other. Then with the easy flow of capital engaged in international economic activity then automatically flows of labor would be more flexible. Then the consequences are increased competitiveness in the employment opportunities.
1.0 INTRODUCTION: Globalization is the economic and social interaction between states. Realism is an ideology in international relations that believes power is a key element that all states are searching for. Realism can be used to explain globalization. 2.0 ABSTRACT: Globalization has various definitions depending on different perspectives. Idealists and liberalists view it as the improvement in the economy as a result of trade restrictions being reduced and more capital movements, investments and people across borders.
The government was motivated and believed that reducing the trade restrictions would increase the volume of trade, increase living standards and thereby promote economic growth. When talking about India, the foreign trade is administered by the ministry of commerce and
Import substitution trade policy was widely adopted to establish and maintain infant industries and subsequently would build mature industries and develop these countries. This supposition was articulated by Raul Prebisch in his dependency theory as he linked the free trade with dependence on commodities and decreasing price of the commodities with decreasing in the term-of-trade for developing countries. The import substitution policies were also advocated by politician and interest group benefited from protection and rents resulted from quantitative restriction. Import substitution trade policy were implemented by using controls including the following (Martin,
Government subsidies boost some industries by increasing the demand and supply of the goods and services of those industries. Also, the government subsidies correct externalities by encouraging consumption of merit goods and services and encouraging companies with negative externalities to adopt production processes with positive externalities. Additionally, subsidies regulate monopoly of power by strengthening start-ups and business growth thereby creating competition. Government Intervention; Subsidies In the free market, the price mechanisms determine the allocation of resources and spending and preferences of the consumers and supply decisions of businesses intersect thereby determining the equilibrium prices. Since of the price, mechanisms determine resource allocation, inefficiency arises.
The truth, that the openness of trade is positively, linked to economic growth of the countries, has helped the trade liberalization and openness to be a necessary part of the developing countries policy measures. By trade openness, it means that the reduction or complete removal of trade barriers and this idea has become very important in the policy making for both the developed and developing economies. There are so many different forms of trade like the transfer of technology, education flow and ideas sharing other than the trade in terms of only commodities. The restrictive trade policies and measures were followed by the developing countries in the start but now they have moved towards the liberalization of trade practices as the world has moved towards globalization. There is a strong support given in the literature of the idea that trade openness acts as an engine of the economic growth and the existing literature supports the positive relation between the different economic variables.
DRAWBACKS OF INTERNATIONAL TRADING Drawbacks of international trade extent from negative social effects to opposing environmental consequences. Occasionally the well-being of people is overlooked or risked for the sake of return on investment. Other issues related to the exchange of services and goods between countries include a potential unsafe need of foreign countries and local occupation losses. There are social hindrances of international trade. While experience with other cultures can be an advantage, it can also be damaging.
They can be abused through the following: • Misrepresentation of findings Their findings can often be distorted by the client for their own benefit which can affect the researcher’s reputation. SUMMARY Key Stakeholders Key Ethical Concerns Public Privacy Issues Confidentiality Concerns Respondents Abuse to respondents Delivering sales under the guise of research Clients Unqualified research Disclosure of identity Lack of Objectivity Research Suppliers Misrepresentation of findings In order to avoid the above problems, various codes have been set-up. One of them being ‘The American Marketing Association’s Marketing Research Code of Ethics’. Opinion Based on the above analysis, it is evident that researchers must be extremely careful while performing research study. They should realize that the more they woo customers the more negative impact it creates in their mind regarding the brand image of the