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What is Globalisation?

What is Globalisation?. Globalisation is: The capacity to move and the potential movement across nations of Trade Investment Technology Finance and Labour. The International Movement of Labour. The international movement of labour has been growing since the 1960’s.

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What is Globalisation?

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  1. What is Globalisation? Globalisation is: The capacity to move and the potential movement across nations of • Trade • Investment • Technology • Finance and • Labour

  2. The International Movement of Labour • The international movement of labour has been growing since the 1960’s. • About 20% of workers in Western nations are immigrant workers who were not born in that nation and the ratio is increasing. • Temporary entrants for employment are also on the increase

  3. The International Movement of Labour • A growing development in the global labour market is the outsourcing of work to economies with cheaper labour • The next bill you pay or inquiry you make by phone to an Australian business could be answered by a call center in India or China

  4. Impact of Globalisation • Globalisation also includes the potential impact of changes in the global market on economies • It means businesses consider the potential entry of international competitors into their markets • So businesses plan pricing strategies and employment policies based on what could happen if cheap foreign producers Or Transnational Companies TNC’s entered the market

  5. Globalisation Business now consider setting up their operations in countries where profits are expected to be greatest e.g. low wage countries or where unions are suppressed, low corporate tax rates The globalised financial market and the ease with which funds can be transferred means that finance is allocated according to international criteria of expected profitability and risk

  6. Globalisation and theLabour Market Since 2000 almost half Australia’s population growth has come from migration The percentage of permanent arrivals under the skilled migration program has risen from 33% in 2001 to 77% in 2008 Australia needs skilled migrants with its ageing population and skill shortages in some areas World Wide Web opens the door for skilled individuals to apply for positions in almost any country in the world

  7. Globalisation and the Labour Market The second component of globalisation involves the potential impact of changes in the global market on economies This means businesses consider the potential entry of international competitors into their markets

  8. Globalisation and theLabour Market Businesses plan pricing strategies and employment policies based on what could happen if cheap foreign producers or TNC’s entered the market Governments and employers use these fears to push for labour market and workplace reforms This has occurred in Australia with the move to individual contracts and the growing casualisation of the workforce While some highly skilled workers may benefit from this, the lowly skilled and marginalised workers tend to lose out through poorer working conditions and less job security

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