Economics
Global Warming
Facebook
Air Pollution

Are effects of globalization good or bad?

User Avatar
Wiki User
March 31, 2008 12:58PM

Governments are told to follow two paths. First, deregulate and privatise. This has been pursued in over 90 countries through structural adjustment policies of the World Bank and International Monetary Fund. The bitter legacy is growing poverty in all regions of the developing world, except China. Second, leave business to regulate itself. Corporations have promised to adopt voluntary ethical standards in response to growing public concern over social and environmental damage. But these have often been a public relations exercise to deflect criticism and the few companies that are implementing these standards compete at a disadvantage to the majority of companies that don't. Governments are told to follow two paths. First, deregulate and privatise. This has been pursued in over 90 countries through structural adjustment policies of the World Bank and International Monetary Fund. The bitter legacy is growing poverty in all regions of the developing world, except China. Second, leave business to regulate itself. Corporations have promised to adopt voluntary ethical standards in response to growing public concern over social and environmental damage. But these have often been a public relations exercise to deflect criticism and the few companies that are implementing these standards compete at a disadvantage to the majority of companies that don't.