What are the relative dangers and advantages of globalization for developing countries? How can they seize the advantages of globalization and avoid the dangers?
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Running Head: GLOBLIZATION FOR DEVELOPING COUNTRIES
Globalization for Developing Country
Globalization refers to an integration of economies throughout the world through trade practices, financial flow, exchange of technology & information and boundary-less movement of people (Suárez-Orozco & Qin-Hilliard, 2004). It is the process to connect people from different corners of the world (Sobhan, 2003). It assists in improving the economic development of the whole world including developing countries.
Relative Dangers of Globalization for Developing Countries
With the increasing globalization, developing countries are confronting several dangers that are as follows:
Global inequalities: Globalization has increased inequality for developing countries (Lane, 2006). Due to globalization, wealth of developed countries has increased, but it has also increased inequality for the developing nations. It is observed that in the global marketplace, rich countries are becoming richer and poor countries are becoming poorer. So, it can be argued that globalization involves danger in the form of inequality.
Destruction of Trade Barriers: Globalization has reduced trade barriers. In the wake of globalization, abolition of trade barriers and tariffs has become a trend (Kasapidis, 1999). This policy is developed to ensure development of wealth for all nations. At the same time, it is observed that due to free trade, it is not easy for the infant industries of developing countries to flourish due to price competition of imports. So, it is also a danger for the developing nations.
Environment Disaster: Globalization also enhances environmental disasters (Lane, 2006). Due to globalization, climate change like global warming has increased for developing nations. It can be observed that due to exploitation of natural resources by the MNC's, environmental and energy related disasters have increased. So, it is a serious issue for the developing countries. It reflects that globalization not only offers opportunities but also involves dangers in the form of energy/environmental disaster. ...
This essay-style solution provides information and guidelines for discussing the advantages and disadvantages of globalization and strategies for developing nations. This solution is approximately 1000 words and includes nine APA references with in-text citations.