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As a matter of fact globalization should not be allowed to operate freely. It is prone to generating insecurity, instability, injustice and inefficiency. It is the right of consumers to make contributions towards just and equitable societies. There is the need to have a consumer movement that is effective to address the social implications of governments’ economic policies. The consumers and consumer groups should take part in deciding the most effective policy approaches in the new global economy.
These consumer groups and movements need to call for more accountability (George, 2003).
The consumers ought to exert pressure to facilitate protection of themselves, societies and economies as they participate in the global marketplace. In a general conclusion, globalization-advancement in communication and transportation technology, with a combination of an ideology of free-market, has given unprecedented movement of products and services and capital. Western nations want to open world market for their goods to take advantage of abundant, cheap labor in less developed nations.
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These powerful countries mostly use multilateral financial institutions and regional trade agreements to coerce the poor countries to "integrate" by, privatizing state assets, reducing their tariffs and more so softening environmental and labor standards. The end results have led to enlarged profits for investors but offered pittances to laborers (Douglas, 2001). There are several ways in which consumption by one person confers a negative effect on other consumers. These have affinity with the processes of globalization like consumption especially in developing nations.
There are concerns of increased levels of consumption in the less developed countries that have accompanied and defined globalization especially over the last few decades.
In as much as the increased consumption has accrued to a relatively high income households, there are some environmental consequences that are borne by mostly lower income groups (Douglas, 2001). The toxic emissions by the automobiles are primarily owned by the higher income groups and this causes serious negative impact on children of the poor urban dwellers.
The growth in consumption in developing world has changed in composition of waste products from basically biodegradable organic material to plastic and other dangerous synthetic materials. They usually take a lot of time to decompose. The poor consumers suffer more since they live in these dumping or waste disposal sites. The question mostly asked is whether these nations are beneficiaries or victims of the globalization processes. Large Corporations are accused of opportunities provided by these processes of globalization.
They exploit the developing nations it has been claimed that there are several advantages for globalization that ranges from economic growth. It also increases the standards of living and reduces poverty and unemployment in less developed nations (Douglas, 2001). Globalization is used with regard to various processes and aspects that affect humanity in one way or another ethnocentrism in consumers is a major determining factor in the magnitude of reluctance to buy a foreign product.
In as much as free trade is being advocated for worldwide, it has not been fair to all nations and especially the developing economies. It is clear that Europe and the US have not opened their markets to agricultural products from developing countries such as African countries and Caribbean region. Is this not a western paternalism rather than a true partnership (George, 2003)? The challenges faced by consumers from globalization must be tackled from at all cost.
The government ought to provide the legal framework, develop and enforce implementation of consumer policies. A study has shown that there are very few countries that have enacted consumer protection legislation and national consumer policies especially in developing world (Douglas, 2001). They do not have consumer protection mechanism. It is thus advisable for consumers to join hands and form groups as a means of protecting and more so educating them on the way forward in demanding for consumer protection policies and legislation from their governments.
Globalization affects all economies to the varying degrees and it is seen to have both the pros and cons in influencing economic growth, employment and poverty and this is according to the economic disposition of a particular economy especially the international trade, economic evolution and the set of macroeconomic policies adopted and even how these sets are laid out in the general development process (Douglas, 2001). The concerned parties and the consumers in general should campaign to promote the conscious and broaden the public debates concerning various economic achievement strategies (George, 2003).
The civil society should take up their responsibilities and public watchdogs to highlight the economic problems confronting the consumers and be on the forefront to develop serious and workable solutions. Citizens must get involved in asserting and demanding for the rights of consumers for economic and social progress, in their country. The major reason for developing World Trade Organizations was to arbitrate disputes concerning trade among nations but it later appeared to be undermining the independence of the developing states and also weakening their ability to control their own economies.
Economic problems. (2020, Jun 02). Retrieved from https://studymoose.com/economic-problems-new-essay
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