For better or worse

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Hundreds and millions of people have joined the global labour market in developing countries and are considered to have won a chance to escape squalor and poverty but… is this really the case???

In my opinion I feel as if these workers seem to be going from one bad condition to another, whilst the corporations are able to get cheap labour and make a profit. Much of the blame for this state of affairs can be laid at the doorstep of corporate globalization-the rules of the global economy as established by organizations like the World Trade Organization, the imposed market fundamentalist demands of the International Monetary Fund (IMF) and World Bank, the dynamics of unregulated global financial and other markets.

The IMF and World Bank have pushed developing countries to undermine worker protections in the name of promoting labour market flexibility. The idea is to deregulate the labour market-to make it easier to hire and fire, to remove wage protections, to diminish standards contained in collective bargaining agreements-so that employers have more freedom to manoeuvre. This kind of deregulation is aimed at freeing up entrepreneurial spirits and promoting economic growth.

The victims and the losers of globalisation are so scattered throughout the rich world, not camped in embattled industries, when corporations set up shop in developing countries, with promise to make life better. It seems these people only ever and continues to get that short end of the stick.

https://www.imf.org/external/np/exr/ib/2000/041200to.htm

Paloma-Nicole Dias Dos Santos

 

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