The Benefits of Globalization Globalization is the process of changing from an isolated world to an integrated one through international cooperation in economics, politics, ideas, cultural values and the exchange of knowledge.
However, this essay will argue that globalization is beneficial for developing countries for several reasons. To begin with, developing countries can get many economic benefits through globalization. People who live in developing countries can get more employment opportunities for globalization.Access to New Markets Globalization leads to freer trade between countries. This is one of its largest benefits to developing nations. Homegrown industries see trade barriers fall and have access to a much wider international market. The growth this generates allows companies to develop new technologies and produce new products and services.Impact of Globalization: Globalization has more positive outcomes than the negative ones. The impact of globalization on the developing countries such as India, China and some African countries are overwhelming. Foreign investments have created a lot of employment opportunities in the developing countries and have boosted their economy.
But the advocates of the policy of globalisation argue that globalisation would help the underdeveloped, and developing countries to improve their competitive strength and attain higher growth rates. Now it is to be seen how far the developing countries would gain by adopting the path of globalisation in future.
How The phenomenon of globalization began in a primitive form when humans first settled into different areas of the world; however, it has shown a rather steady and rapid progress in the recent times and has become an international dynamic which, due to technological advancements, has increased in speed and scale, so that countries in all five continents have been affected and engaged.
Globalization is not very rosy for developing countries. In fact, it is a double-edged sword. As the First world enjoys endless benefits of integration, the effects of globalization on developing countries are harming economies in different ways. For example, the ever-increasing income inequality gap in developing countries is of major concern.
First of all, the most obvious advantage that the globalization brings about is that goods (such as car, laptop, smartphone, etc.) produced in one country can be sold in other countries .For the developed countries, now the can easily export their products and services to other countries to earn money. And for the developing countries, it can create opportunities of employment and reduce.
Additionally, third world countries benefit from globalization through access to new markets. With international linkages, there are no trade barriers and developing countries can freely trade with any country around the world. Economic experts believe that this is the leading benefit of globalization in developing countries. Homegrown companies have an extended market base as they can reach.
Therefore, this essay will argue that globalization is beneficial for developing countries in terms of economic growth, quality of education and health care industry. To begin with, globalization is beneficial for the economy of developing countries. Many companies have started to look for outsourcing opportunities in developing countries when businesses went global because money can be saved.
Some of the negative impacts include:. Globalisation operates mostly in the interests of the richest countries, which continue to dominate world trade at the expense of developing countries.
Globalization has made the rich richer and the poor, poorer. The middle class suffer the most in the process. Globalization itself is a phenomena that is developing countries, but it does not reduce poverty. Misuse and mismanagement of natural resources is another drawback of globalization.
Globalisation has some functions related to increase in international trade, financial flows and foreign direct investment (FDI) and so on. The essay would discuss globalization economically benefit developing countries through four aspects on both forces and threats.
Globalization Essay. Model Answer. Undoubtedly, globalization has provided a humungous amount of benefits to developed, developing as well as under-developed nations; however, there are some disadvantages as well. I will discuss the advantages and the disadvantages of globalization in the following paragraphs.
Advantages of globalization in developing countries. The advantages of globalization are discussed below: 1. MORE JOBS. The advent of globalization means that more Multi National Corporations take root and spread in developing countries. In simple terms, that means more jobs. Employment increases, especially those of semi-skilled laborers, technicians and the like. Also new jobs are being.
Negative Effects of Globalization. Although the developing countries have had many benefits from globalization, there are a few negative impacts it has caused in the developing countries. Displacements of Workers. Thanks to globalization, there are employment opportunities all over our huge world. However, most people have had to leave their.
Benefits from Globalisation. Trade enhances division of labour as businesses and countries specialise in areas of comparative advantage; Deeper relationships between markets across borders enable and encourage producers and consumers to reap the benefits of economies of scale; Competitive markets reduce monopoly profits and incentivize businesses to seek cost-reducing innovations and.
Globalisation will bring prosperity to developing world only if industrialised countries and MNC's are willing to adopt a code of conduct, which permits their profit motives to be harmonised with.