Industrial Relations Essay Example | Topics and Well Written Essays - 2500 words

Industrial Relations - Essay Example On the example of relevant studies and researches, a special attention is paid to the influence of globalization in LDCs’ manufacturing sector. 1. Introduction The modern phenomenon of globalization is a wide-spread issue for the discussion in numerous researches and studies. It cannot be denied that various dynamic phenomena are correlated with this background. The limits of different nations are blurred and it is appropriate to focus on specific criteria for development of different employment patterns, which differ from the ones, which existed previously. Actually, there are many different aspects of globalization and we will further focus on economic globalization. With respect to it, we found it necessary to define the phenomenon of economic globalization: â€Å"Economic globalization refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital and wide and ra pid spread of technologies. It reflects the continuing expansion and mutual integration of market frontiers, and is an irreversible trend for the economic development in the whole world at the turn of the millennium1 † It can be surely claimed that the development of technologies and flow of international capital across different countries enable foreign markets to create a great number of new jobs. Employment goes at a full pace, but very often this process evokes numerous different reactions of the society. On the one hand, globalization has been gradually increasing in the world of economy and different changes happened to foster the processes of globalization. 2. Economic Globalization: Pros and Cons in the Manufacturing Industry of LDCs Let us focus on the economic globalization and its impact on less developed countries (LDCs). In this case we will see the following picture: tariff barriers for international trade became much lower and there is a coming process of a high -speed market development in the world. The world trade, goods and products are on the way of their constant expansion and development. As a result, the cost of transportation and communication around the world are expanding the laws of international regulations. Consequently, conditions of employment for the employees in different fields should be correlated with the options of investments and a free financial flaw. It was found out by Lee (1996) that â€Å"there  is  a  significant  current  of  apprehension over  the  implications  of  globalization  for  employment  and  income  inequality.On  the  face  of  it  this  is  difficult  to  reconcile  wih  the  voluntary  shift  towards  a more  open  world  economy  in  democratic  societies,  which  are  also  the  only countries  where  the  apprehension  is  voiced†2. Moreover, LDCs have many opportunities to follow credit process line of the government and the global society to improve their production. Less developed firms are encouraged and supported internationally. There are many winners in employment nowadays, but there are many losers as well. Globalization often leads to job losses, but at the same time it can create a number of interesting and prospective jobs. There are different patterns of global trade and employment generation is on the prospective edge of having many opportunities for development. Economic  globalization  has always intensified changes of employment patterns. This resulted