Globalization is the process by which the world becomes integrated, accessible and webinized/networked through Trade, Information Technology and Politics.
Whilst politicians, states and governments approach globalization from a political point of view, businessess and economies approach globalisation from a trade perspective and social institutions and workers define globalization from human rights perspectives.
Human rights are the inalienable rights and …show more content…
Advanced countries enjoys the full benefits of globalisation such as profits from free market economies around the world, low unemployment rate, good social services, stable democratic government etc, whilst developing and underdeveloped countries in the south of the globe gets to reap the side effects of globalization 's impact in human rights.
Through IMF/WORLD BANK trade liberalization, currency devaluation and privitization policies, underdeveloped countries have to suffer from the removal of subsidies on fuel, public utilities etc. They suffer from budget cuts on spendings to social services such as education, pensions, welfare programs, cuts in public sector employment and they usually have to switch to export based agriculture. In this way globalization is impacting the human rights efforts of these countries negatively.
In Ghana, IMF conditionalites has resulted in a freeze in public sector employment for the past
3 years. IMF/WORLD BANK shark loan repayments has become a huge burden on countries in the south, such that inflation is constantly on the rise and the national currency can