Showing posts from July, 2017

(5j) Globalisation, a blessing if not done for selfish reasons

Globalisation, it seems now even some diehards are starting to question it. I still think it is the way forward when well-regulated but that's the problem as the remaining diehards claim it should be even more deregulated to open up markets and stimulate the economy.
Globalisation has become that companies are allowed to produce products in poor countries where people are paid too little for the work they do although slightly more than what others in the region earn to attract the best after which companies sell the products in rich countries (mainly the Western world) at prices below the price what should be paid if the same products were produced in wealthy countries where wages are higher. The result: the outsourcing means that people lose jobs in countries where wages are high and thus become poorer while in the developing countries people who work at multinationals improve compared with those without a job at multinationals so local producers can't compete with the multin…