Impacts of Globalization on the Labour Market in Great Britain Free Essay Example, 6750 words

Globalization has become the centre and the primary the very influential consideration in United Kingdom s trade and bargain system with other states or countries. UK government depends on the unyielding interface of markets, countries, technologies, and capital in a much cheaper and faster rate that globalization brings. Thus, United Kingdom plays a role of crucial importance in the world s globalization thrust being one of the world s biggest capitalist magnates. This is the reason why the British government has been one of the most active states to the different world trade meetings, conferences, and conventions. Just recently, the UK government announce its more active involvement with the European Union, World Trade Organization (WTO), Organisation for Economic Co-operation and Development (OECD) and the G20 as part of its strategy for strengthening the multilateral trading system3. Being one of the most open economies in the world, United Kingdom calls for a strong, sustainabl e and open economy that would benefit business domestically and internationally. UK recognizes the significant impact of globalization in its economy4. Albeit criticisms and pessimist perceptions on the effects of an all-out open economy, the government of the United Kingdom pursues the direction of globalization as its economic agenda. We will write a custom essay sample on Impacts of Globalization on the Labour Market in Great Britain or any topic specifically for you Only $17.96 $11.86/page In 2009, the UK was not spared from the global economic crisis. UK government formally acknowledged that the United Kingdom was in recession for the first time in more than a decade5. Recession begun in the last quarter of 2008 and unemployment rate increased.