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The Center for Global Development, The Institute for International Economics, The Washington Office of the International Labor Organization, and The Global Fairness Initiative hosted a seminar on "Doubling the Global Work Force: The Challenge of Integrating China, India, and the former Soviet Bloc into the World Economy" with Professor Richard B. Freeman, Herbert Ascherman Chair in Economics, Harvard University; Centre for Economic Performance, London School of Economics; and Director of Labor Studies, National Bureau of Economic Research.
Over the past two decades, the Soviet Union and its Comecon trade bloc broke apart, China adopted far-reaching market reforms and, in 2001, joined the World Trade Organization, and India liberalized its economy and recently announced plans for sharply increasing its share of world exports.One consequence of the increased international economic integration of these large economies is a sharp increase in the size of the global labor force.Many fear that this means lower wages, worse working conditions, and increased inequality for the rest of the world.Professor Freeman will analyze the likely labor market effects of this doubling of the global workforce, dispelling myths and pointing out where the policies of the international community—including the IMF, the World Bank, and the ILO—are inadequate or wrong-headed in addressing the risks and opportunities of these developments.
You can view the presentation from the event here.