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China and the world economic order
Author(s)
Date Issued
2014
Publisher
Abingdon, Oxon: Routledge
Series/Report no.
Routledge studies in the modern world economy;127
ISBN
9781315817491
Citation
In Yu, F. L., Yuen, W. K., & Kwan, D. S. (Eds.). International economic development: Leading issues and challenges. (pp. 31-51). Abingdon, Oxon: Routledge, 2014.
Type
Book Chapter
Abstract
As a result of globalization, multinational corporations (MNCs) can split their value chain into separate components and outsource the business functions to those suppliers. This chapter presents several reasons for the rise of the anti-globalization movement. According to the International Labour Organization, the global unemployment figures increased to approximately 197 million people in 2012, compared with 120 million in the early 1990s. The chapter discusses on the factor, the loss of welfare benefits in many countries, which fuels the movement of anti-globalization. According to the Merriam-Webster Dictionary, a sweatshop is a shop or factory in which employees work for long hours for low wages and under unhealthy conditions. Companies that operate using sweatshops are Wal-Mart, Apple, Nike, Reebok, Adidas, Disney and many other well-known brands. In the first five months of 2010, foreign direct investment (FDI) in China achieved a double-digit growth of 14 per cent over the corresponding period of the previous year.
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