SESSION 2
Discussion board.
Globalisation has resulted in an increased movement of capital, labour, goods, and services between countries. This poses a challenge because it influences international HRM and employment relations. Contemporary globalization has seen new players enter the markets and become more competitive. Such countries include Japan, Hong Kong, and Singapore, which pose a threat to the US, the key promoter and beneficiary of current-day globalization
Globalization has led to increased instability and diverse influences due to an increased intensity of international trade. Similarly, there’s a change in work and labour markets in reference to migration and feminization trends. Labour mobility emerges as one of the critical aspects of globalisation. Besides, competition between firms has led t pressures to cut costs and maximize profits, quality, and efficiency. For this reason, companies have chosen to locate businesses to regions where labour costs are lower. Such a move has adverse effects on workers as they are left more vulnerable and with reduced job security levels.
Further, countries have lost the ability to fully control their economic systems as these have been left at the mercy of global markets. The markets have become more global, and national economies are less distinct. Consequently, supra-national bodies such as the 6EU or the G8 have increased their power. As manufacturing moves towards less developed countries, research is being enhanced in the more developed country. They play legal systems against each other depending on the one that offers favourable terms
Global trade growth has led to the flourishing of MNCs. They have been accused of using their economic power irresponsibly and working in a super territorial way to escape legislation. They operate beyond the influence of nation-states. They have been said to undermine labour standards and violate regulations on pollution. They also tend to take advantage of host countries by tapping into their markets and capturing their laborforce. A good example is how Amazon managed to get away with paying taxes in the tune of billions.