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Since the 1980s, the politico-economic map of the world has been changing rapidly. While on one hand this period witnessed a substantial withering away of communism from world polity, a number of economic events took place almost all over the world to usher in liberalization, privatization, morketization and globalization. In the process, the welfare state has squeezed vigorously to give way to alternative development paradigms. The adoption of Human resource management (HRM) has formed part of the new style of strategic industrial relations (IR), which came to be called new industrial relations (NIR), making the distinctions between HRM and IR appear artificial in today’s environment. NIR has virtually abandoned traditional industrial relations or substantially modified them, and actors in industrial relations are moving towards the new arrangement. This new trend is also called Japanization which is now a catchword in the USA and most western countries. Bargaining pattern has changed from distributive to integrative to productive.
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