Taming Globalization

Radical changes in economic and immigration policies are needed for globalization to benefit many underdeveloped countries.

Concerns about globalization were outlined in a UN-sponsored report of the World Commission on the Social Dimension of Globalization. The report claims that only a dozen developing countries have benefited from globalization so far and that those who have benefited least are “the poor, the assetless, illiterate and unskilled workers and indigenous peoples.”

While conceding that globalization’s “potential for good is immense,” the report calls for a balance of globalization for profit and globalization for people. Among some of the changes called for by the commission:

An international agreement on migration

Fairer trade agreements that open Western markets to agricultural and textile products from developing countries

An agreement on a “balanced framework” for foreign and direct investment that will ensure that developing countries benefit

Enforcement of labor laws and trade union rights especially in export processing zones

Better coordination between world institutions like the IMF, World Bank, ILO and World Trade Organization in ensuring that job creation is the central economic policy goal.

Posted by Jim Langcuster at February 25, 2004 08:20 AM | TrackBack