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Globalisation means integrating the Indian economy with the world economy. It is the outcome of the policies of liberalisation and privatisation. It attempts to establish links in such a way that the events or happenings in India can be influenced by the events happening miles away.
Globalization has a major and almost instantaneous impact on India. The reduction of export subsidies and import barriers has led to free trade; which has made the untapped Indian market more attractive to the communities internationally.
The movement aims for an end to the legal status of corporate personhood and the dissolution of free market fundamentalism and the radical economic privatization measures of the World Bank, the IMF, and the World Trade Organization.
Globalization is an extremely contentious issue, with two core debates revolving around it: firstly, between those who suggest it is a real phenomenon, the globalizers, and those who believe it is very much exaggerated, the sceptics; secondly, between those who are opposed to the effects of globalization, the anti
These included both non-party action groups (NGOs), organized political parties, and research institutes. A handful of prominent acti- vist leaders and a small number of cadre-based grassroots organizations were involved in almost every major anti-globalization or anti-foreign investment campaign.
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Globalization is clearly contributing to increased integration of labor markets and closing the wage gap between workers in advanced and developing economies, especially through the spread of technology. It also plays a part in increasing domestic income inequality.
How does global competition affect unions? It increases the employment of domestic workers in basic industries. It protects unionized employees against offshoring. It reduces union bargaining power for representatives of employees.
As globalization spreads the division of labor on a global scale, countries are able to export labor and production processes that they are relatively less profitable at and instead specialize in labor that is relatively more profitable.
From our analysis, we find that globalization measured by the KOF Index decreases labor share, and the increase in offshoring after the 1990s brought a qualitative turn in globalization, which led labor unions to lose their power in wage bargaining by threat effect.
Globalization weakened U.S. labor unions during the last 20 years because many companies moved their operations overseas.

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