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• Has globalization made the savings of the common man less secure? • If the customer chooses a safe savings avenue like a bank fixed deposit there is no guarantee that it can give a return higher than the rate of inflation? • The value of the local currency may not be stable owing to partial (capital account) and full convertibility of the local currency. • The balance of payments situation can lead to devaluation of the local currency and fuel inflation equal or even higher than the annual Fixed deposit rate. • If the customer wants to beat the inflation by investing in the share market or mutual fund even then he is not safe. A decision taken in the parliament of a country10,0 miles away can affect the NAV (net assets value) in an adverse manner. The central European bank helping a member county by writing off loans could affect the value of Euro and have the same effect. • Wars declared or undeclared also in a foreign country where the investor has no say could also affect his investment adversely. The FII (foreign institutional investor is like a fair weather friend. ) They come in hordes when the market is booming making good stocks out of reach of the retail investor. The leave at one pretext or another leaving the market in a very bad shape. Some small investors loose their life’s savings. The partial convertibility (capital account) and the full convertibility of the local currency has made the bank interest a laughing stock . And I am not taking about gold or expensive cars but about WPI the wholesale price index. There is a joke about a finance minister in the South Asian region promising to deliver onions at one dollar a kg. It seems the retail investor is caught between the devil and the deep sea.
Globalization has made doing whom and by whom is not created, who controls it? These are all of these economic interests and fight for positions, and that the most to lose and suffer less developed countries, because these tend to take them and what little valuable resources they have. So that the state must know and have your goals for development. S which has the greatest power and control of all these developments in the world today, under which these are resources that still give a government (state) the ability to manage?
I see that globalization is a promissing concept. I also see that it's impact depends largely on the implimination strategies.
Where strategies were made to achive a common good, it had a positive impacts on the common man. Where strategies were made to achive personal good, it had a negative impact on the common man.
The other determining factor on the impact of globalization is to understand the process and align it to your strengths in order to see its positive impacts on common men.
Yes, it really helps, the common man.
Globalisation as an interactive connection of global countries for mutual benefits has always been in existence through the course of history. In recent times, this term has acquired a restricted connotation – that pertaining to economic issues.
The last two decades have seen the emergence of revolutionary technologies in the area of communications. The evolution of new techniques of communication like wireless telephones, internet and mobile handset, telephone devices with2G and3G spectrum have heavily impacted global economic life.
