Globalization Case

The world today facing an unstable world economic order that keep shocking for the last three years, third world countries are familiar with this situation of the fragility of the financial environment since the 1970s , but the western countries just realizing these fragility mostly in the last decade and its pretty new to them. Consequently, everybody must examine now the new financial reality that appeared in the last years that drove the global world into deregulation and globalization of all market activity in both western and emerging/third world countries. They should examine every inch in the structural adjustments that have been made as a result of the globalization and leverage of third world countries.

In the past, most western governments adjusted their policies to be aimed at coupling with all financial activities by national and community needs. Governments often directed the market activity with rules and regulations on imports, exports, fiscal, and financial activity so they will satisfy their own needs and goals. In contrast, today governments changed their all presumption with the new world financial reality, they now try to deregulate their activity in all aspects: fiscal and financial. Government today try to privatize as much of its activity as possible, make all transactions and activities well suited with the marker forces of today. These actions ensure more efficient economic activity in global aspects.

The financial global renaissance brought changes in the global work force that have grown and become with much more competitions on employment openings around the world. Nowadays, people from all over the world become work candidates as the world becomes smaller and with less boarders in all prospections. This change brought a growth in income levels, opportunities, and the size of the global economy as a whole. Unfortunately, the growth of all global economy have also brought with it a lot of negative effects as well, the new workers that entered the global market carried a upscale in employment competition causing rapid changes in all wages and prices in the market. So now, the global economy facing a few global employment challenges worldwide.

First, all governments around the world have to generate enough jobs so it can answer all the new workers that entering the free world every day, the biggest problem concerning this issue happens in the emerging countries that don't find answer to the growth of their economies. The western countries also facing a Hugh deduction in their labor market as well, and facing pressure from their communities asking for more jobs blaming the government for the unemployment rates. Second, governments of all countries have to find the right adjustments of skills and capabilities so they can be fitted with the growth of the employment market. The globalization affect and the innovations in labor saving technologies not helping but making it much more complicated