International Relations Between Russia And India - 1556 Words

The University of Manchester Manchester Business School BMAN70302 Research Methods RESEARCH PROPOSAL INTERNATIONAL RELATIONS BETWEEN RUSSIA AND INDIA AND ITS IMPACT ON THE IMPORT OF COAL Student Id – 9812013 Supervisor – Dr Laura Haar INTRODUCTION India and Russia shares a strong strategic, military, economic and diplomatic relationships post-cold war and even after the disintegration of the USSR. Initially this international relationship was based on 5 major elements: Politics, Defence, Civil, Nuclear energy and Anti-Terrorism Space. However in recent years, Economic factor has grown its importance between both the countries in the form of trade. The economic relationship between India and Russia is very strong. The†¦show more content†¦Since coal is a non-renewable source of energy and is widely used to make electricity and other industries and small scale factories to run boilers, the demand never goes down. On the other hand, Russia has large amount of coal reserves. The quality of Russian coal is similar to the one India imports from Indonesia and South Africa. Looking at the demand and other factors in mind, India might start importing coal from Russia looking at their International trade relation in mind. Coal industry in India is on a rise as compared to other countries in the world. The graph below will show the rise in demand of imported coal in India over the years. The graph below indicates that the demand of imported coal keeps on rising every year in India. Figure 1: Consumption of Imported Coal over the years. The second graph shows us the increase in exports of Russian Coal in 2015. This suggests that Russia is a potential supplier of Coal to different countries. Figure 2: Increase in Exports of Russian Coal in 2015 OBJECTIVES OF THE RESEARCH PROPOSAL †¢ To develop an understanding of International trade relations between India and Russia and its impact on the import of Coal. †¢ To explore different trade patterns and trade agreements between India and Russia and its effect on the relationship between the two countries. †¢ To compare the quality of Russian coal from Indonesian and South African coal and how will it benefit India. †¢ To take a

Narrative of the Life of Frederick Douglass Essay

Imagine yourself back in the early eighteen hundreds as black slave living on a plantation with death knocking on your door at any second. The only chance to survive this born-into captivity, is to humble yourself before a white master or attempt to escape to an unknown safe haven. To chance an escape would put your life at risk to the bounty hunters and cause severe brutality upon those you left behind. The only logical way to live one’s life in these situations would be submissive from birth to death and to die quietly, so those remaining don’t lose what little faith they have left. This is an example of the atrocities that occurred throughout our Great Nation’s history, and will forever be a scar for everyone to see. One individual†¦show more content†¦Physical pain was the key factor of submission, but when slave children were raised only knowing physical brutality, emotional pain tormented the soul even more. Another action taken by the white masters was the act of making their female salves their personal concubines and then robbing the slave-mothers of their newly born children. This act was performed when the child was about twelve months old, just being old enough to be stripped from the breast that fed and nourished them. Even though most of the slave-children were of mulatto decent from their white fathers, sparing a child from the loss of its mother was not considered and highly deemed as showing favoritism towards the slaves. â€Å"Slaveholders have ordained, and by law established, that the children of slave women shall in all cases follow the condition of their mothers; and this is done too obviously to administer to their lusts, and make a gratification of their wicked desires profitable as well as pleasurable; for by this cunning arrangement, the slaveholder, in cases not a few, sustains to his slaves the double relation of master and father† (971). The mother of the sl ave-child was usually sold off to some plantation some distance away. This was done to keep her from trying to make any attempt to see her child and to rid the plantation of any witness ofShow MoreRelatedNarrative Of The Life Of Frederick Douglass987 Words   |  4 PagesLife of Frederick In the â€Å"narrative of the life of Frederick Douglass an American slave written by himself† Frederick reveled to audience the time he was living as a slave and the moments of brutal treats for example psychological, emotional and physical abuses. He was suffering terrible moments during his 20 years as a slave in the twentieth century. In addition, he describes in his own words the strategies he used to escape from the slave holders and to be free. This story the â€Å"Narrative of theRead MoreNarrative Of The Life Of Frederick Douglass1730 Words   |  7 PagesOne of the most well-known slavery narratives was lived and written by Frederick Douglass, Narrative of the Life of Frederick Douglass. Frederick Douglass was a civil rights activist who was born into slavery on a plantation in eastern Maryland in February 1818. His exact birth date is unknown, he states in his narrative, â€Å"I have no accurate knowledge of my age, never having seen any authentic record containing it.†2 His birth name was Frederick Augustus Washington Bailey, which was given by hisRead MoreNarrative Of The Life Of Frederick Douglass Essay1102 Words   |  5 PagesDate Narrative Of The Life Of Frederick Douglass Writing in the favor of black people has always remained controversial from the very beginning. Critics regard such writing as â€Å"a highly conventionalized genre† indicating that â€Å"its status as literature was long disputed but the literary merits of its most famous example such as Frederick Douglass s Narrative of the Life of Frederick Douglass†¦are widely recognized today.† (Ryan:537) Despite of such severe resistance, writers like Douglass have pennedRead MoreThe Narrative Of The Life Of Frederick Douglass1566 Words   |  7 PagesThe â€Å"Narratives of the Life of Frederick Douglass† is the story of Frederick Douglass’ life from the time he was born into slavery, to the time he escaped to freedom in the north. When Douglass wrote this book, slavery was still legal in a large portion of the United States. After Douglass’ escape to freedom and his continuation of his education, he became an abolitionist through his works of literatu re and speeches. In â€Å"The Blessings of Slavery†, by George Fitzhugh he states that southern slavesRead MoreNarrative Of The Life Of Frederick Douglass1257 Words   |  6 PagesBook Review By Mary Elizabeth Ralls Narrative of the life of Frederick Douglass: An autobiography written by Frederick Douglass Millennium publication, 1945edition 75 pages Frederick Douglass whose real name was Frederick Augustus Washington Bailey approximately birthdate is in1818, the month or day is not known, he died in 1895. He is one of the most famous advocates and the greatest leaders of anti-slavery in the past 200 or so years.Read MoreNarrative Of The Life Of Frederick Douglass Essay1498 Words   |  6 Pagessoutherners believed that one of the most essential means of life was slavery. In the novel, Narrative of The Life of Frederick Douglass, Douglass challenges and debunks the idea of slavery being a necessary part of the white lifestyle; many pro-slavery arguments consisted of religion justifying slavery, slaves being â€Å"easily manipulated†/ignorant, and slavery keeping the southern economy from disappearing (The Proslavery Argument). Frederick uses personal experiences and other tactics to expose theRead MoreThe Narrative Of The Life Of Frederick Douglass1363 Words   |  6 Pages In The Narrative of the Life of Frederic k Douglass, Frederick Douglass portrays the importance of education because of its influence in leveling the playing field between the races in the 1800s. Education and knowledge are themes that are heavily dwelled upon throughout the novel, inspiring the reader to see the full power of such important ideals and to take the full advantage of both at all times. Douglass gives the reader a new appreciation for education as he delivers his message regardingRead MoreThe Narrative of the Life of Frederick Douglass1527 Words   |  7 Pagesconsidered â€Å"property† of their slaveholders and had no control over their own life. They were victims of psychological and physical brutal treatment. This story represents confinement, slavery and the lack of power African people had in such a racist society back in those days. African talents were absolutely wasted and they were considered inferior to white individuals. The â€Å"Narrative of the Life of Frederick Douglass† sim ply addresses that white society was causing negative effects to itself andRead MoreNarrative Life Of Frederick Douglass1549 Words   |  7 PagesThe Narrative Life of Frederick Douglass’ is an autobiography of Frederick Douglass, the slave who escaped and became one of renowned social reformers of his time. The book is a collection of actual experiences of the author during his time in slavery and experiences of fellow slaves. He describes brilliantly the oppressive conditions into which he was born, lived, as well as his struggles and triumphs. The author meant to make the reader comprehend life of the African Americans in slavery beforeRead MoreNarrative Of The Life Of Frederick Douglass1255 Words   |  6 PagesFrederick Douglass, throughout Narrative of the Life of Frederick Douglass, uses religion to get many of his points across. In one way, religion plays a huge role in Douglass’ ability to become literate throughout the text. With the Bible and other Christi an texts, Douglass is able to further his ability and the ability of others to read. This becomes important because as Douglass points out the slaveholders believe a literate slave is not a good slave. This union of literacy and religion show the

The Trilemma of Globalisation Free Trade, Fair Trade or Fear Trade Free Essays

string(273) " in a different 5 sphere it remains a moral affront to those who are committed to future global prosperity that the WTO is unable to reach agreement to allow access, without the burden of duties, by the developing world to the markets of the economically prosperous world\." Ken Costa Chairman: Europe, Middle East and Africa UBS Investment Banking Department 2 Finsbury Avenue London EC2M 2PP Cass Business School 2 March 2006 EMBARGO UNTIL 19:30pm 2 March 2006 The Trilemma of Globalisation: Free Trade, Fair Trade or Fear Trade In discussing the challenges presented by today’s diverse global environment few topics can be as important as the issue of globalisation. It is at the heart of the structural change that has taken place in our generation as borders have shrunk, technology changed and communications enhanced. Economists believe – almost universally, which says something(! ) that globalisation is a net benefit. We will write a custom essay sample on The Trilemma of Globalisation: Free Trade, Fair Trade or Fear Trade or any similar topic only for you Order Now But, if recent examples are to go by, there seems to be a growing doubt gnawing at its foundation. Globalisation faces a trilemma. Which is to be master? Free Trade, Fair Trade or Fear Trade. Free Trade For globalisation to succeed there needs to be a common acceptance of the frictionless flow of capital across borders and the determination to eliminate 2 impediments to the free movement of resources and products. Free trade is the pillar on which the argument for globalisation is founded. For the last decade we have lived with the prevailing sense that the globalised environment is here to stay. There has of course been a vigorous debate about how the benefits should be shared, the implications of the growing technology divide and the sustainability of regional development. But by and large the foundations have been in place. What has become disquieting recently has been the realisation that some of the most basic premises of globalisation are far from secure. The case for globalisation still has to be made. Globalisation still needs to be nurtured as a beneficial system and hown to be demonstrably favourable to all participants in the global market place. This is an argument that needs to be advanced and argued for and can not merely be assumed. Fear Trade But free trade seems to have been supplanted by fear trade. The recent actions in the United States to prevent the completion of the acquisition by the Dubai Ports World of the US ports previously owned by PO under lines the serious challenge to the argument. Here we have the US, the major exemplar of modern capitalism, wishing to restrict the take-over by one foreign company of another foreign company with operations in the United States. This action is unfortunately not an isolated example, it comes sharply on the heels of the decision to prevent CNOC, a Chinese company, from acquiring Unocal in the US. The ports case has become a testing place for the future direction of globalization. At issue is ownership. There are after all in any market regulations that govern ways in which corporations 3 act. In any event these ports will overwhelmingly be run by and managed, as they have been in the previous foreign owners’ hands, by US citizens. Of course there are arguments for national security. That would be true in any country. But it is of deep concern when these concerns are deployed selectively discriminating between one foreign owner and another. Friends of the United States, and I count myself as one, will do the country the highest favour by lobbying actively against these barriers. Not only on their merits but also because of the sign that is given. Free trade flourishes in a climate of reciprocal openness and mutual advantage, fear trade now seems to be an underlying assumption lurking not only in this decision in the United States but in other countries as well. Security, national interest, cultural preservation and other nationalist reactions can easily stoke these fears. Italy have complained about protectionist activities within the European Union, but recently, albeit unsuccessfully, Italy attempted to prevent nonItalian acquisitions of domestic banks. In France, the Prime Minister has attacked â€Å"fragmented share capital† as being a risk to independence and is looking to bolster the barriers to takeover activity in France. These trends will grow if the strongest and freest markets continue to act in a protectionist way. Those committed to developing sustainable and responsible flows of capital worldwide have a full task to remain vigilant to promote vigorously the need to have a competitive and sustainable global economic order. 4 All participants in the global economy, Government, business, consumers, will need to find a common language to prevent misunderstanding and actions that could easily lead to disastrous protectionist decisions similar to those in 1914 or the 1930’s. Protection can grow rapidly fuelled by job losses, eroding cultural influence, security concerns and ultimately the visceral reaction against foreigners. The openness of markets to trade and to the acquisition of assets lies at the centre of the future prosperity for all. There are risks if this protectionism grows unchecked. Inflation will creep back because the benefits of globalisation will not be felt, interest rates will therefore inevitably hedge higher with a sell-off in the bond markets, pressure on the equity markets and the inevitable liquidity problems could lead to capital controls. A dark scenario and one which I believe is avoidable. But it does require a concerted effort to win both the economic argument but also the ethical ones. Fair Trade Fair trade has therefore emerged in the debate. Unfortunately the concept seems to have been colonised by particular single interest lobby groups seeking to address for example levels of sub-economic activity in Africa and arguing for an increase in the price structure of consumer goods in the developed world. In the end the fairest trade will still be the freest provided the benefits are seen to be shared equitably. Globalised markets have to, and above all be seen to, benefit all: the strongest and the weakest. When the strong economies wish to exclude access to them by emerging economies the very base of the argument is eroded. For this reason, and in a different 5 sphere it remains a moral affront to those who are committed to future global prosperity that the WTO is unable to reach agreement to allow access, without the burden of duties, by the developing world to the markets of the economically prosperous world. You read "The Trilemma of Globalisation: Free Trade, Fair Trade or Fear Trade" in category "Papers" The diverse global environment raises questions of standards and sustainability of economic activity. These are moral issues. They should be tackled as such. But that does not mean that they are not economic ones too. Take for example one of the questions that is posed by globalisation. Is the move away from regulated markets to unregulated ones simply a means of avoiding the high hurdles of regulation in the developed world? Take the tobacco industry for instance. Do the global tobacco companies seeking entrance into new markets do so in order to evade the onerous restrictions of the major OECD markets? Similarly polluting factories in third world countries where the desire for employment places pressure on local governments to allow activities which would be frowned on in the home countries of multi-national corporations. Low labour costs have brought huge advantages to consumers in the Western world but at what cost to the emerging markets in which they operate? But the moral debate is not a one way street. The clash of civilisations was a debate in ancient Rome and Greece long before Huntingdon raised the topic, but globalisation now means that people find out much more about each others’ cultures much more rapidly. It is true that many international corporations have seen their numerators expand as the top line has grown through sales to emerging markets. Similarly, the 6 denominators of the P L have benefitted as costs have shrunk through outsourcing and manufacturing at lower costs. But on the other hand many emerging markets have also benefitted as their standards of living have increased and transparency has grown. If we wish to make poverty history and I profoundly hope that this objective remains at the forefront of every global citizen then it will come about by working with the grain of capital flows, by recognizing the reward for risk and through supportive actions by Government creating the climate for enterprise to flourish. We work on the natural assumption that it is a good thing to understand each other’s cultures, aspirations and diversity. However we do have to work on one unfortunate fact of human life. It is not good news but bad news that travels fastest. The Danish cartoon incidents and the activities of radical minorities are flashed across our screens and soon become representative of the cultures being depicted. Every global business will need to develop the necessary training programmes not only to enable the free flow of information to work effectively but to determine how globalising information could bring together incompatible elements of culture. Essentially this is a political question – how can free speech and cultural sensitivities be reconciled? But ultimately it will be on the ground an important issue for businesses who try to create core values for global workforces. Will education of itself lead to greater tolerance? This is a topic too large for this address. But suffice it to say that education and prosperity will not of themselves eliminate global tensions though they are essential pre-requisites. 7 8 Diversity Diversity is important to this process. Diversity enhances competitiveness enabling the most innovative, creative solutions to be advanced as perspectives, eclectically drawn across cultures, countries, products, markets are pooled to provide answers to the issues of the day. For example, UBS needs talented people who can efficiently and effectively work across multiple cultures and time zones. Diversity is therefore not an issue merely of gender or ethnicity but it reflects an open and flexible culture which tries to understand the motivations and aspirations of different people and their points of view. These dialogues above all are integrated into the day to day operations of the firm. To respond to the pressures and to come up with innovative solutions requires close co-operation and the working together of a very disparate group of people with a very common set of values and a common desire to understand and appreciate the ways in which common goals can be achieved whilst recognising diverse and local aspirations. There is I believe an even more fundamental issue that will require addressing. There is strong evidence that in a young and mobile workforce material satisfaction is not sufficient to retain their commitment and motivation. There is a deep hunger, almost spiritual, that is diffused and not traditionally expressed but which needs addressing. There is a desire among young people across the globe that there is more to life than the pursuit of material prosperity. Concern for the environment, for just practices in the workplace and for a balanced working life are key themes in this emerging generation. Traditionally this has been a â€Å"no go† area. After all religion and work do not mix. But any desire for a values-based organisation will require 9 careful attention to be given to a much deeper understanding and respect for he religious beliefs, cultural and spiritual aspirations of this new global workforce. A new dialogue of understanding faith in business space is rapidly becoming a global imperative for business. Securities Industry Having made these general remarks it is worth looking at trends in the financial industry. ? Expansion of the Business: Financial sector activities are likely to experience substantial growth over the next decade. Two reasons can be singled out: Deregulation and liberalization mainly in emerging markets, and wealth accumulation and retirement provisioning all over the world. Over the past few decades, the trend towards deregulation and liberalization in financial services has contributed significantly to the industry’s expansion. This process is well advanced in many countries, mainly in the mature markets, but further liberalization is, however, likely in emerging market countries where domestic markets are still highly protected. In general, further liberalization of financial markets is expected to benefit investment banking and securities firms which are positioned to 10 ake advantage of any further opening of individual domestic capital markets. Global asset managers could benefit from the facilitation of cross-border mutual fund business, and possibly from a tre nd towards harmonized pension fund regulation. †¢ Especially in mature markets, but basically to a global extent, financial sector activities are also likely to gain further importance, mainly due to two trends: On the one hand, wealth accumulation is likely to increase as a result of the shift from labour-intensive production to more capital-intensive activities. We see a clear secular trend towards wealth accumulation that is likely to continue over the next decade. On the other hand, the fact that in the coming decades, most developed countries will be confronted with significant demographic shifts leads to a trend that pension reform is on the agenda of many governments around the world. Although each country will follow its own regulatory agenda, we believe a gradual shift from public unfunded to private funded pension schemes is likely to take place. Institutional asset management will be the sector most impacted by this trend. ? Increasing Diversity of the Business: Financial market products are getting increasingly diverse and sophisticated with the main characteristics being securitisation, equitisation, and corporate restructuring. 11 †¢ The transformation of financial services over the last years has been driven primarily by the increasing de-emphasis of traditional lending activities combined with the increasing importance of securities trading and financial markets. Corporations are frequently in a position to directly finance their funding needs by accessing the capital markets, expanding corporate bond markets. At the same time, an increase in bank assets has fueled growth in the securitisation of these assets. We expect these trends to continue, as increasing transparency will further facility financing by way of the securities market. †¢ Despite the bursting of the new economy bubble, the underlying trend towards an increasing role of equity finance and equity investments remains intact. Institutional and individual market participants will tend to invest a greater share of their assets into equity products and the corporate sector will increasingly rely on equity financing. We see long-term secular trends pointing towards an ongoing demand for advice on corporate restructuring, as trade liberalization and technological progress will increase global competition for corporations, pressuring them in turn to restructure and consolidate their business. At the same time, cross-border consolidation in some industries has just begun. ? Further internationalization of business and new markets: It is crucial for financial sector firms to have at the same time both a strong 12 footprint in mature markets and expand actively into emerging markets. Economic growth is a key indicator of the potential for financial services in different regional markets. We expect the largest absolute GDP increase over the next 10 years to occur in North America, followed by Asia and Western Europe. Even though North America is set to grow at a slower rate than Asia, the absolute GDP increase will be higher. This demonstrates the importance of having a significant presence in the US and other mature markets. †¢ At the same time, emerging markets, especially emerging Asia, have a huge potential. GDP growth in China averaged more than 9% since 1979, and India is on track to achieve a high sustainable growth path in the foreseeable future. Other markets in the region are benefiting from the increased demand in the region and globally, increasing the attractiveness for global financial firms. Another important emerging area is the Gulf region, driven by sky-high oil prices and some first steps towards a further diversification of the countries’ economic structure. Based on remarkable macroeconomic stablisation efforts in recent years, Latin America finally seems to have overcome its historical volatility, providing interesting nvestment opportunities. 13 ? Alternative Asset Managers: Hedge funds and buyout groups are raising ever increasing sums of money to be deployed principally cross border. The current size of the hedge fund market is estimated at US$ 1. 2 trillion and will expand significantly in the years ahead. Highly liquid and mobile capital should not be seen a s restless capital. Opportunities for long term foreign direct investments in the emerging markets continue to grow as infrastructure projects absorb capital and new investment opportunities allow for petro dollars and other pools of investment funds to help grow these economies. Challenges An international presence in diverse global environment creates substantial challenges. Global firms have to integrate diverse cultures, strike the balance between global reach and local presence, match the structure and characteristics of its international workforce with functional and regional business needs, and establish infrastructure and processes to provide global communication and co-operation means. ? Integrating cultural diversity: A global firm’s clients and employees are generally, at least to a significant extent, not global in their nature and characteristics, but are based and anchored in their respective home countries. This determines a broad variability of cultural and religious habits, business styles and customs, and consumptions models and needs a global firm is confronted with on a day by day 14 basis. In order to achieve long-term profitability and growth, this variability has to be managed and integrated into the firm. ? Striking the balance between global reach and local presence: In order to be perceived as a global player, global firms have to establish a global strategy and business model. At the same time, due to the cultural diversity mentioned above, specific market and customer orientation has to be focused along country-specific needs. This is true for the products offered to the customers, the communication employed to establish and strengthen links with clients and stakeholders, and for every other interaction between the firm and the outside (local) world. ? Finding and strengthening a diversified workforce: Especially in the area of service providers, well-skilled staff is crucial for the long-term success of the company. International mobility and intercultural skills have to be ade core value of every corporate culture. Therefore, human capital management and attracting best people is crucial, especially as the international competition for skilled workforce becomes harder and more intense. Especially in the financial sector, specialist knowledge is required and decides on success in a specific region or business area. Hence, if companies wants to achieve co ntinuous success, it has to establish internal talent development and management processes to ensure that employees are promoted in their personal and professional development. To distinguish itself from its competitors, firms have to offer their staff unique development opportunities, thereby attracting current and future leaders. 15 ? Managing critical resources: Internal processes, corporate communication and IT face considerable challenges in a diverse global environment. As such, it is challenging to guarantee a consistent appearance in terms of brand, strategy and communication. In addition, doing business all over the world is especially challenging for the IT infrastructure and for know-how sharing on a global level. Yet, this offers economies of scale and synergies at the same time, e. g. y streamlining the brand and the public appearance, by having one integrated IT and know-how sharing platform and by reviewing internal processes re duplications, potential for improvements inefficiency and for streamlining and simplifying processes. UBS manages these challenges and makes them opportunities ? One Firm: We firmly believe our integrated business mod el creates more value than our businesses would as stand-alone units. Our clients all over the globe should effortlessly be able to access all the services our firm can provide, where and when they are required, and regardless of what combinations of teams lie behind the solutions. This â€Å"one firm† approach facilitates cross-selling through client referrals and the exchange of produces and distribution services between businesses and thus contributes significantly to our revenue flows. The integrated business model and our â€Å"one firm† approach enable us to combine global reach with local sensitivity. 16 ? Innovative products: As one of the leading global financial services groups, UBS actively shapes the future development of financial markets. As such, challenges emerging from today’s diverse global environment are converted into opportunities by meeting emerging cultural and business needs with innovative products tailored to specific cultural requirements. Another example is the growing importance of hedge funds on international financial markets, where UBS offers products and services specifically targeted at these clients. ? Managing and promoting diversity: †¢ To UBS, diversity means recognizing and appreciating multiple backgrounds, cultures, and perspectives within its organisation. UBS builds on these differences to produce cross-cultural teams that generate new ideas and creative solutions for our increasingly diverse clients. †¢ Diversity consists of a broad range of aspects that vary in their degree of visibility going from gender over ethnicity, age, disability, sexual orientation, religion, nationality to though. †¢ In addition, senior management takes the topic seriously and is often participating in meetings and employee forums on the topic. ? Corporate Social Responsibility: UBS makes responsible behavior an important part of its culture, identity and business practice. As a 7 leading global financial services firm, UBS wants to provide our clients with value-added products and services, promote a corporate culture that adheres to the highest ethical standards, and generate superior but sustainable returns for our shareholders. In order to retain the trust society gives to UBS, UBS conducts its business responsibly and at the same time engages in the communities that it is part of. Socially Responsible Investments In additional to financial considerations, UBS provides expertise in incorporating environmental and social aspects into our research and environmental activities. Advice on social investments not only have to take into account financial considerations but also environment, social and ethical criteria. Human Resources To remain at the cutting edge of the rapid changes in the diverse global economy requires an enormous investment in leadership training talent management and attention to cultivating an environment within which entrepreneurial spirit can flourish. The handling of outsourcing, one of the most dynamic developments in the global economy, has become an important part of the HR process. It emains a challenge when developing outsourcing plans to minimize the impact on existing employees, to plan the transition with meticulous 18 execution and to ensure that the benefits are understood and communicated well before the plans inevitably leak out. Managing declining morale and performance of remaining employees is vital as they often suffer anxiety, envy and a last gasp of invigorated competitiveness. Any outsourcing activity is a time of u pheaval and it is important therefore to underline not only what is changing but also what is not. Conclusion Let me conclude by saying that global organizations face an unprecedented opportunity to grow their worldwide businesses. With this comes increased prosperity and therefore the need to ensure the attractions of globalisation are well understood by all participants; that the benefits of increased profitability are seen to be in the interests of all stakeholders not only the shareholders; and that the barriers to the flows of capital are removed as often as they are erected. Fear trade has no place in a fair and free globalised world. How to cite The Trilemma of Globalisation: Free Trade, Fair Trade or Fear Trade, Papers