GLOBALIZACIJSKI PROCESI I INFLACIJA. (Croatian)

Globalisation is characterised by the steadily rising volume of international trade, whose growth rate has been exceeding that of the global GDP for a long time now, and liberalisation of foreign commerce with free movement of capital, money, knowledge and ideas. For the first time in modern economic history the vast majority of mankind operates under the market system, with access to the most sophisticated technology. As a result of the entrance of China, India and former Comecon countries into the world system of production and trade, the global workforce has doubled to nearly 3 million over the past 15 years. New entrants have helped to hold down inflation in developed economies because their goods are much cheaper and they are gaining market share, replacing more costly goods. New competition also forces local producers to cut their prices and it curbs wage demand of low and medium-skilled workers in developed countries as they cannot compete with Chinese or Indian counterparts who are equally productive yet willing to work for significantly lower wages. As these workers move up the value chain it will pull down the prices of a wider range of products. In other words, new entrants will continue to help hold down global inflation for some years to come. [ABSTRACT FROM AUTHOR]

Globalizaciju karakterizira rastuća vrijednost međunarodne trgovine, čije je povećanje u dužem razdoblju bilo veće od rasta globalnog bruto domaćeg proizvoda, te liberalizacija međunarodne razmjene sa slobodnim kretanjem kapitala, novca, znanja i ideja. Prvi put u suvremenoj ekonomskoj povijesti pretežiti dio čovječanstva djeluje u tržišnom sistemu s pristupom najsuvremenijoj tehnologiji. Kao posljedica ulaska Kine, Indije i bivših zemlja SEV-a u svjetski sustav proizvodnje i trgovine, globalna se radna snaga udvostručila na oko 3 milijuna ljudi u proteklih 15 godina. Novi su radnici doprinijeli sniženju inflacije u razvijenim zemljama jer su njihovi proizvodi jeftiniji i postupno preuzimaju sve veći dio tržišta. Nova konkurencija prisilila je poduzeća u razvijenim zemljama da i sama snize svoje cijene i reduciraju rast plaća budući da ne mogu konkurirati kineskim i indijskim zaposlenicima koji su spremni raditi za osjetno nižu naknadu. Ovi radnici postupno osvajaju tehnološki složenije proizvode, snižavajući njihovu cijenu na svjetskom tržištu. Drugim riječima, novopridošli će radnici i u bližoj budućnosti doprinositi sniženju globalne inflacije. [ABSTRACT FROM AUTHOR]

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