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How has Globalization Impacted the Developing World - Research Paper Example

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Running head: How has globalization impacted the developing world? What are some of the advantages and disadvantages? How can the disadvantages be lessened? Give examples. Insert Name          Insert Grade Course Insert 21 February 2012 Outline Introduction How has globalization impacted the developing world The advantages of globalization on the developing world The disadvantages of globalization on the developing world How can the disadvantages be lessened Globalization Introduction Globalization can be defined as the movement of goods, capital, people, and skills to economic integration, which is driven by the increase in trade and investment…
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How has Globalization Impacted the Developing World
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Download file to see previous pages Mostert (2003, p.1) adds that globalization is one of the vital forces that impacts on the economy of a nation; however, it is capable of leaving both cultural and environmental problems as it progresses. Globalization presents both opportunities and challenges; it leads to improvement of international trade, technology progress, greater outsourcing of businesses among countries, and greater mobility of human resource among other benefits. Some of the challenges include economic and social costs, as well as the increased interdependence of countries. Therefore, nations must be keen on adopting policies that increase benefits and minimize challenges associated with globalization. This research paper will focus on the positive and negative impacts of globalization on developing countries. The paper will conclude with the solutions for the negative impacts pf globalization. How has globalization impacted the developing world? Mostert (2003, p.2) emphasizes that globalization increases integration globally, and as a result, opportunities for increased growth and living standards are guaranteed. In addition, globalization extends the process of regionalism by diminishing the borders and regional block between countries. The developing countries face the positive as well as the negative impacts of globalization; for instance, the attempt of Britain to improve the Asian countries economy yielded to skewed distribution of income between the developed and developing nations. Financial problems contribute to an income gap between developed and developing nations. Nevertheless, those countries that have embraced globalization tend to grow fast compared to those countries which protect themselves with barriers. In addition, the nations that had a faster economic growth have managed to improve their citizens’ living standards by reducing poverty levels. For instance, India has managed to cut its poverty level by half over the past two decades, while China reduced its rural poverty from 250 million in 1978 to 34 million in 1999 (Global Education, 2011). Needless to say, globalization can be a solution to the problems faced by the developing nations, especially in Africa. Mostert (2003, p.13) adds that globalization affects the developing nation’s labor so that it can lead to high levels of employment in these countries. In another argument, globalization may contribute to unemployment in developing countries as a result of competition among these countries. The demand of low-skilled workers in the developing nations is likely to reduce as a result of technological development that is propelled by globalization. Indeed, there is an increase in demand of skilled workers as a result of technological advancement. Mostert (2003, p.14) adds that globalization also leads to the reduction in bargaining power of workers, and this is evident because of the border that exists between countries, resulting in limitations in labor mobility of workers. In ...Download file to see next pagesRead More
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