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Global Inequality 1-800-India - Term Paper Example

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The word globalization conjures images of new-found wealth for everybody because as what economists are fond of saying, “a rising tide lifts all boats.” What this means is that if people embrace the concepts and ideals of globalization in trade, commerce, and finance, then…
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Global Inequality 1-800-India
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Global Inequality 1-800-India

Download file to see previous pages... In many ways, both sides are correct but it all depends on which side one looks at it. Advocates of globalization claim it is inevitable because it is an idea whose time has come (echoing the arguments of French writer Victor Hugo, 1902-1885) because it offers one sure route to progress, combined with social trends and new advances in communications technology.
Globalization, contractualization, and business process outsourcing (BPO) firms had brought many changes to the countries which embraced it, such as India, Pakistan, and China. These were both economic and social but also quite far reaching, long-lasting, and in many ways pervasive. Some of changes are clearly beneficial while others are arguably harmful.
The first economic change to India was the infusion of foreign technology to Indian workers which had in turn brought many poor working class Indians to the relative luxury of living a well-off middle class lifestyle with all its conveniences and comforts. Technologies had brought an economic boom to many Indian cities and caused an urban renewal in values.
The second economic change was that large sums of foreign direct investment (FDI) found their way into India after the BPO revolution was underway. Previously, investors were hesitant to plunge into India because unlike China which is authoritarian, India has a chaotic form of democracy where people speak many dialects and have varying regional cultures too. An economic change BPO brought to India was a form of strict economic discipline.
The third economic change before and after Gecis came into existence was that most Indians were poor although many of them had a relatively good or quality education. In Gecis jobs, many of these capable young workers who would otherwise be jobless found decent job and are now on the brink of catapulting themselves into a growing Indian middle class.
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