Cheap Labor Essay
Economic growth has always been the greatest interest of the world. Any studies and researches are done to improve the economy of Third World Countries. Unemployment rate and underpaid cheap labor is a big problem that the most of the Third World Countries face today in our global village. Unemployment rate of a nation affects the affordable living of local people because they are not able to afford healthcare, education, and proper housing for their family. Being unable to afford healthcare, education and housing, would negatively affect condition of the employees to perform their task at work efficiently. Furthermore, it would not ensure the upbringing of the children to be the leaders of next generation. Due to the high …show more content…
World gas price has increase dramatically. In Asia or European countries gas price reached up to five dollar per gallon. In Korea their minimum wage is $2.50 and most people have a car to fill with gasoline every one or two weeks. How can poor people afford to live under these circumstances? That is why Korea had IMF during late 1998.
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