Q. 175.0( 2 Votes )

How can the gover

Answer :

1. The government policies can protect the interests of the rich and the poor alike. For example – In the interest of all, the government can ensure that labour laws are implemented properly and the workers get their rights.

2. The government can also support small producers to improve their performance till the time they become strong enough to compete. For example – Using trade and investment barriers

3. Negotiation at the World Trade Organization (WTO) for fairer rules is also a way that can be adopted by governments. This can be achieved by aligning with other developing countries with similar interests in order to fight against the domination of developed countries in the WTO.

NOTE 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.

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