 process had doubts about it’s success in view of expected growing income inequalities among nations and also within countries particularly developing countries due to inflow of new technologies in all processes of production, leading to acute unemployment problem. His views are depicted in the relevant paragraph reproduced. “Brexit vote and the election of Donald Trump set the stage for this powerful an provocative sequel exploiting the survival of democracy and globalization in the face of rising nationalism”. He advocates for giving space to developing economies for augmenting industrial development and economically rich countries to protect their workers against unfair trade practices.
In a scenario of global financial crisis and emerging trends with rich economies to get out of this crisis International Monetary Fund (IMF) have also expressed their apprehension in economic outlook report of 2007 regarding expected rise in inequality level due to introduction of new technologies and investment of foreign capital in developing countries for which skilled workforce is a prerequisite. Other economically rich nations also have some reservations regarding success of global integration program as it’s philosophy allows employers to shift their projects to low and middle income developing countries due to availability of cheap labor, which is unjust for their own labor force.
To conclude, for keeping globalization on track long term remedies are required particularly regarding capacity building of work force. For that developing countries need to make heavy allocations for education and health care for speedy development of human capital ensuring effective use of new technologies now becoming integral part of all economic activities.