Made on Earth by Wolfgang Korn

Author:Wolfgang Korn [Korn, Wolfgang]
Language: eng
Format: epub, mobi
Publisher: Bloomsbury Publishing
Published: 2012-11-04T21:00:00+00:00

Winners or Losers of Globalisation?

Germany is simultaneously a winner and loser of globalisation. Over the last 25 years, Germany’s unemployment levels have increased as more and more jobs have been outsourced abroad. These are predominantly in the coal and steel industries, but also in manufacturing and assembly plants. Assembly plants are factories where electrical equipment is put together, or clothes are sewn. Employers in Germany have taken the threat of overseas competition very seriously. To save money, employees are made redundant, and wages are either frozen or reduced. More recently however, fewer jobs have been outsourced to countries outside of Germany, and Germany is once again an attractive place for businesses to set up and grow.

Germany, as a nation, is rich. The country is worth approximately €5.4 billion euros! That would be €81,000 euros per person – if the money was distributed equally. In reality, 10 per cent of the population own 60 per cent of the nation’s wealth, 40 per cent of the population own the other 40 per cent of the nation’s wealth, and the other 50 per cent of the population have nothing or are in debt. Those who have money can capitalise on globalisation: they can buy shares in businesses or set up new businesses. Those who have nothing on the other hand have to struggle to make ends meet. Globalisation is responsible for creating an ever-increasing gap between the rich and the poor. Most of the winners and losers can be separated into two kinds of people: the employees who have to work harder and harder, but don’t receive any increase in payment for their efforts, and investors who profit from globalisation.

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