question_answer 34)

Globalization will continue in the future. Can you imagine what the world would be like twenty years from now? Give reason for your answer.  

Answer:

The entire world will become one market. People will be in a position to buy quality goods at cheapest rates. Competition will increase among the producers and of course it will benefit the consumers. But seeing the present status, the situation may be bad for the workers. Labor laws will be liberalized. Many rules and regulations of the WTO will be more biased against the developing countries. They are already designed to force them to open their economies in the interest of the developed countries. If this situation continues, then the situation of the developing countries of the world would worsen.