When used in an economic context, the United Nations defines globalization as the reduction and removal of barriers between national borders in order to facilitate the flow of goods, capital, services and labor
An Investment Code should be implemented which requires prospective investors to: Invest in boosting the productive capacity of the economy.
Invest in labour intensive sectors that create jobs.
Emphasise training and skill development. Abide by all ILO conventions on minimum standards. Abide by social and labour laws and regulations and the constitution and all existing legislation of South Africa as a minimum, and actively implement improvements to these.
Where companies operate in decentralised areas, they will need to abide by national social and labour standards. Facilitate transnational contact between shop stewards.
Companies will endeavour to increase employment opportunities as a priority in harmony with national social development policies. They will use technologies which generate employment, both directly and indirectly.
Some key policies which can boost productive investment and encourage employment creation are: Expanding the production of infrastructure and public investment in the economy.
Lowering interest rates, which can have a substantial impact on investment in an economy. Create a stable economic environment. This must not, however, require pursuing highly restrictive macro-economic policies or a repressive labour relations regime.
Give women access to financial resources. Develop small-scale lending programmes to ensure that women can access financial resources. Discourage unproductive, speculative investment and limit damaging capital outflows.
Use measures such as exchange controls, taxes on speculative investments, and short-term capital gains taxes. Focus on parastatals as key investors. Financing and credit relationships between finance and industry must be reformed with an aim to building relationships which promote job creation.
Directed credit and differential interest rates could be used to help foster such changes. Prescribed assets and control over pension funds and the financial sector.
Implement a policy of prescribed assets to channel investment funds into job-creating opportunities. There should be increased investment in research and development, co-ordinated with research institutions.
COSATU should lobby government to conduct an in-depth investigation of the financial sector and how to ensure channelling of financial resources into industrial development.
Mechanisms must be put in place to ensure that investments flowing from industrial participation counter-trade schemes, linked to armaments procurement, be channeled into labour intensive, job creation activities which also encourage skills transfers and general socio economic upliftment. It poses a grave threat to the ability of nation-states to serve their citizens, and can further relegate the status of developing countries to that of "wholly owned subsidiaries" of the TNCs.
MAI represents a single most serious threat to the sovereignty of independent nations. Its provisions amount to an international bill of rights for multinational corporations. COSATU should join the growing international campaign against the MAI Government should be urged to use its upcoming chairpersonship of the Non-Aligned movement NAM to mobilise further opposition to the MAI, and to support the view that an entirely new investor agreement be negotiated, with full participation from developing countries and civil society and based on respect for fundamental worker rights, and the sovereign right of parliament to pursue national development goals.
The IDC needs to be re-oriented from its focus on capital intensive mega-projects to incorporate labour intensive projects as well In addition to the allocation of funds from the investment portfolio of the IDC, the full pre-tax profit of the IDC should be applied to job creation ventures.
Private sector investments in partnership with the IDC should be required to invest in job-creating investments. Competition policy needs to form part of a broader industrial strategy.
Competition Policy should be informed by the following objectives: To reduce concentrations of power which enable a handful of individuals to wield undue influence.
To see to it that workers' interests are taken into account, in particular potential for job loss must be an important criteria in the regulation of mergers and acquisitions. To ensure "fair" pricing, in particular for basic goods.
To move towards worker ownership and control. To enable the state to intervene decisively in regulating enterprise structure and conduct in the public interest, and To facilitate, as part of a coherent industrial strategy, the production of surplus and its distribution in such a way that the economy develops and grows.
Any competition policy should not lead to job losses, down-grading of labour standards and deterioration of social welfare.In this paper, Fischer provides an in depth analysis of the globalisation issue and its impact on trade, firms, employees, cultures and politics worldwide.
JSTOR is a digital library of academic journals, books, and primary sources. Ageing and Care of Older Persons in Southern Africa: Lesotho and Zimbabwe Compared.
Jotham Dhemba, Department of Sociology, Anthropology and Social Work; National University of Lesotho Bennadate Dhemba, Formerly Department of Social Services, Harare. Introduction. The United Nations Department of Economic and Social Affairs observes that the population of the world is ageing rapidly .
Theoretically speaking, the impact of globalisation on inequality, both within and across countries, is ambiguous and depends on the circumstances of individual countries as well as on the aspect of globalisation involved (O’Rourke, ). Institute of Social Studies (ISS), The Netherlands ↑.
The ISS, based in the Hague, is a postgraduate institution, offering a 15 months MA program in developing . But looking closely at the impacts of globalisation on developing countries, one would observe both sides of the coin, in that it has both positive and negative impacts.
Globalisation has had a lot of positive effects on developing countries.