Child labour is hardly a new phenomenon. Some countries have attempted to address and curb this prevailing issue and yet, the number of children engaged in child labour continues to persist and climb. According to the United Nations Children’s Fund (UNICEF), there are reportedly 246 million children trapped in child labour in the world, out of which approximately 70% of them toil long, hard hours under exploitative and perilous conditions.
The general consensus amongst economists is that opening one’s doors to foreigners will stimulate a country’s economic growth. Governments can do so either by introducing foreign direct investment or easing their immigration laws. By opening up their economy to foreigners and global corporations, countries can increase their population size, standards of living and output per capita. Additionally, they can also benefit from the creation of jobs, as well as the exchange of technology and expertise.
However, while economic growth is seen as favourable, a rapid development can present adverse consequences and backfire on the government’s goals.