Course Content
Understanding Economic Development | Class 10 | Economics | Notes + Quiz
About Lesson

1. Unequal Benefits of Globalisation βš–οΈπŸŒ

  • Not everyone has benefited equally from globalisation. 🌎❌
  • Educated, skilled, and wealthy individuals have made the best use of new opportunities. πŸŽ“πŸ’ΌπŸ’°
  • Many people, especially small producers and workers, have not shared the benefits. πŸ‘©β€πŸŒΎπŸ‘·β€β™‚οΈπŸ’”
  • Job security has decreased, with many workers now being employed on a contract basis. πŸ“‰πŸ“
  • Traditional industries such as handloom, small-scale manufacturing, and cottage industries have suffered due to cheap imports. πŸ§΅πŸ­πŸ“‰
  • Farmers have been affected by fluctuating prices due to global market trends, making their income uncertain. πŸšœπŸ’ΈπŸ”„
  • Income inequality has increased, as the rich have gained more from global trade and investment, while the poor have struggled. πŸ’΅β¬†οΈπŸ‘₯⬇️

2. The Need for Fair Globalisation βœ…πŸŒ

  • Fair globalisation should create equal opportunities for all. βš–οΈπŸŒ
  • The benefits of globalisation must be distributed more fairly. πŸ’‘πŸ€
  • Policies should ensure that no one is left behind in economic growth. πŸšΆβ€β™€οΈπŸ“Š
  • Governments should take steps to protect vulnerable workers and small businesses from unfair competition. πŸ›οΈπŸ‘©β€πŸ­πŸ›‘οΈ
  • Environmental concerns should be addressed, ensuring that economic growth does not lead to excessive pollution and resource depletion. πŸŒ±β™»οΈπŸŒ
  • Large corporations should be held accountable for fair wages, ethical sourcing, and better working conditions. πŸ’ΌπŸ‘·β€β™€οΈβš–οΈ
  • Countries should work together to prevent exploitation and ensure fair trade policies for all nations. πŸ€πŸŒπŸ›οΈ

3. Role of Government in Ensuring Fair Globalisation πŸ›οΈπŸ“œ

  • The government can take steps to protect all citizens, not just the wealthy. πŸ‘©β€πŸ‘©β€πŸ‘§β€πŸ‘¦βš–οΈ
  • Measures include:
    • Ensuring proper implementation of labour laws to protect workers’ rights. πŸ› οΈπŸ“œ
    • Supporting small producers to help them compete globally. 🏭🌍
    • Using trade and investment barriers when necessary to shield domestic industries from unfair competition. πŸš§πŸ“‰
    • Negotiating at WTO for fairer trade rules that are beneficial to developing countries. 🌐🀝
    • Collaborating with other developing countries to counter developed nations’ dominance and advocate for more balanced global policies. 🌏✊
    • Introducing social welfare programs to support those displaced by globalisation, such as retraining programs and unemployment benefits. πŸ’ΌπŸ§‘β€πŸ«πŸ’°
    • Promoting sustainable development practices that align with fair trade and environmentally friendly policies. πŸŒ±πŸŒβ™»οΈ
    • Enhancing access to education and skill development for all citizens to help them adapt to global market demands. πŸŽ“πŸ“šπŸ’‘

4. Role of People in Fair Globalisation πŸ—£οΈπŸ€

  • Mass campaigns and public representation have influenced major trade and investment decisions at WTO. πŸ“’πŸŒ
  • This shows that people can play a crucial role in pushing for fairer policies. πŸ‘₯βš–οΈ
  • Collective action can help create a more just and balanced globalisation process. ✊🌏
  • Activism and civil society movements can raise awareness and demand accountability from multinational corporations. πŸͺ§πŸ“’πŸ’¬
  • Public pressure can lead to changes in government policy, ensuring that the interests of all people are considered. πŸ—£οΈπŸ“
  • Global solidarity movements between workers and small producers can advocate for ethical business practices and fairer wages. 🌍πŸ’ͺπŸ’΅
  • People can challenge unfair practices by corporations through boycotts, petitions, and legal action. βœ‹πŸš«πŸ–ŠοΈ
  • Grassroots organizations can work to empower marginalized groups and give them a voice in the globalisation process. πŸ’¬πŸ‘₯🌱