Globalization refers to the process of transmission of ideas, goods, and services across national boundaries. It is the level of growing interconnectedness among countries. For example- The impact of a particular situation in a country far away from India might have a considerable impact on the Indian economy. The process of liberalizing controls on the markets has reduced the role of governments and the increasing levels of globalization have turned the world into a global village. However, the government needs to intervene in order to secure justice for different groups of people and make globalization fairer for all.
The government can play a major role in making the process of globalisation fair which would create opportunities for all, and also ensure that the benefits of globalisation are shared better.
1. The policies of the government must protect the interests, not only of the rich and the powerful but all the people in the country. This can be verified by proper implementation of labour laws and the protection of the rights of the workers.
2. It can support small producers to improve their performance till the time they become strong enough to compete.
3. The government can also put in place trade and investment barriers, if necessary, to protect the interests of the local people as well as the domestic market.
4. It can also negotiate with the WTO i.e. World Trade Organization for fairer rules and regulations especially in favour of developing countries.
5. The government, in an attempt, to put forward its interests at the global level, can align with the other developing countries with similar interests in the fight against the domination of the developed countries in the WTO.
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