Very Short Question and Answers - The Struggle for a Fair Globalisation

Government policies are important because they help ensure that the benefits and disadvantages of globalisation are balanced, allowing all citizens to have equal opportunities.

Governments can protect local industries by imposing tariffs or quotas on imported goods and by providing subsidies to domestic producers.

The MSP ensures that farmers receive a guaranteed price for their crops, protecting them from price fluctuations in world markets.

'Dumping' refers to the practice of exporting products at prices lower than their cost of production to undermine local industries in another country.

Good infrastructure like roads, ports, and power supply helps local producers compete by lowering production and logistic costs.

Fair trade practices are rules that ensure equal competition, prevent exploitation of workers, prohibit dumping, and protect the environment.

Products such as Fair Trade coffee and chocolate ensure farmers are paid fairly and work under safe conditions.

The WTO makes and enforces rules for international trade to ensure smooth, predictable, and free trade between countries.

The WTO provides a platform for member countries to resolve trade disputes through consultations and legal mechanisms.

A key criticism is that developed countries influence WTO rules to their advantage, sometimes at the expense of developing nations.

Vulnerable groups include poor farmers, workers in small industries, tribal communities, and those lacking education or resources.

Governments can offer skill development programs and easier credit or finance support to help vulnerable groups adapt.

Cooperatives help small producers or farmers collectively bargain for better prices and fairer treatment in the market.

Investing in education equips citizens with skills to benefit from global opportunities and reduce inequality.

SEZs provide facilities and incentives to help Indian companies produce goods for export, creating more jobs and economic growth.

The 'Make in India' and 'Vocal for Local' campaigns promote Indian-made products to encourage domestic consumption and production.

India imposed anti-dumping duties to prevent Chinese products, sold below cost, from harming Indian manufacturers.

When India required foreign solar companies to use locally-made parts, the US challenged this at the WTO, forcing India to relax its policy.

Social security schemes provide insurance, health benefits, and pensions to workers impacted by job losses from global competition.

The main goal is to ensure that the benefits of globalisation are distributed fairly so that everyone in society—not just a few—can prosper.