Globalization
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Composed from the talk given by BY B K RAO
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'IMF' and 'World Bank introduced the idea of Globalization among develop counties of the world. Aditya Birla a prominent industrialist of India stated rightly that we will show the World' Model of Management' through Globalization. 'The take over Steel plants at overseas by Industrial Houses like Mittal and Tata proves him right' Besides that 'Even Pepsi has also CEO of Indian origin'. The Globalization encourages the high quality goods and high productivity but with law wages. However the Health Care, Labour, Overtime and disability laws etc are required to be amended in order to sustain against competition in the world market. The Globalization some time hit developing countries. Zambia is one of the examples. Zambia was compelled to sale its copper at lower price then its productive cost. However we should not forget that the Globalization also makes us competitive neighbour with use of technology and skilled management. In the Globalization well being of humanity is being ignored. It also implies that per suit of happiness is in per suit of profit. The 10% population of America is having 85%of investment which substantiate the above point.
(B K RAO, IAS is a retired Senior Secretary of the Government of India.)
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