One is an increase in employment opportunities for the indigenes as there is creation of more jobs. Also, influx of foreign manufacturers may also lead to the import of new technology. And with transfer of new technology from developed countries comes more opportunities for training for local employees. This, in some cases, has lead to impaction of entire regions at a time, causing the benefits to go beyond national boundaries. Taking this further, the slackening of barriers to various other products and sectors, especially agricultural products, would lead to immense gains to developing nations.
In addition, globalisation leads to global competition, and in the long run, to local competition, ensuring the improvement of creative abilities and innovative capabilities. Competition between producers of commodities ensures the quality of the products and services at reduced prices, leading to specialisation and efficiency.
Other positive impacts of globalization on developing countries include better access to foreign culture and entertainment through television broadcasts, music, clothing, movies, etc; increased cooperation between governments and the ability to work with better focus towards the achievement of common goals; and diffusion of knowledge and technical know-how among member countries, especially the less-privileged countries.
Much has been said about improvement in technology but globalisation also improves communication as it leads to faster means of communicating and travel. As stated earlier, globalization is somewhat partial as industrialized nations benefit more from it than developing countries.
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One of the major negative impacts of globalization on developing countries is poverty. Globalization has been said to increase poverty. Many millions of people are excluded, left behind in squalor.
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Although the exact impact of globalization on poverty is very difficult to assess, research estimates show that poverty has increased by 82 million, 14 million, and 8 million in sub-Saharan Africa, Europe and Central Asia, and Latin America and the Caribbean respectively Globalization and its impact Taking a more critical look at this, globalization itself cannot be held responsible for most of the poverty in developing countries as other factors such as bad governance, poor economic policies, weak reforms, etc have also implicated.
But globalization is a major factor.
It makes the rich countries, in this case, the industrialized nations, to become richer, and the poor nations, the developing countries, to become poorer Zygmunt Bauman in Beck Although several African economies initially benefited from globalization as there was a transient economic growth, over the years, they have become heavily dependent on the wealth of well developed nations Lawal To make this worse, agricultural growth is very feeble. And since the s, the terms of trade and the import capacities have declined sharply resulting in the reduction in the per capita income of the region Lawal Compounding the woes of several developing states is the enormous debt build up.
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These and several other evidences has led to Africa, which houses a major part of world developing states, to being referred to as the most heavily indebted region globally. Considering globalisation from the health and disease angle, it has impacted seriously on the epidemiology of infectious diseases, as regards the ability to prevent, control and eradicate these diseases, worldwide and especially in developing countries.
One of the ways by which this has occurred is the enhancement of technological capacities worldwide, leading to increased emissions and a resultant global warming.
This in turn leads to enhanced breeding of vectors such as mosquitoes, animal or human behaviours such as bathing in pools which may have been contaminated with the larvae of schistosomes, etc Saker et al. Over the years, large increases in international trade have encouraged the introduction of western diets to the previously natural diets of most developing countries.
And in the long run, western diseases are gradually becoming prevalent in developing nations. Again, introduction of western lifestyle through globalization to the developing has led gradually loss of core values leading to increased looseness and promiscuity among the youth and adults alike. Globalization has increased the vulnerability of the rural farmer in the remotest village to world events.
An example is the case of coffee farmers in Uganda. But since globalization came in and the Coffee Marketing Board was abolished, the farmers have been made vulnerable to changes and shocks in the world market.
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And for developing countries to have buoyant agricultural sectors, the farmers have to be sheltered from the full vagaries of the world market, a task made very much impossible by globalization. Before the advent of globalization in developing countries, the main source of occupation for the active members of the population, both men and women, was agriculture. But since the influx of foreign corporations occurred, there has been a sectoral shift in the labour force as more hands are being drafted towards assembly production and fewer hands left in the fields.
Another effect of globalization in this regard is a relative increase in unemployment. All these, coupled with shocks in the global economy and the act of outsourcing have led to the laying off of thousands of workers who previously worked in the big multinational companies resulting in mass unemployment. Prior to the onset of globalization, there existed a little wage difference between skilled and unskilled workers in most developing nations.
But since globalization came in, there is a widely accepted fact that increases in the demand of skilled labour drove the drastic increase in skill premium. Labor laws that protect workers from exploitation and mistreatment are almost non-existent in some emerging countries. This could potentially harm the image of a company that outsources services from a foreign company that exploits children or the rights of their workers.
There are growing numbers of consumers who actively seek products that are Fair Trade or otherwise certified as free from exploitative or unethical practices. The collapse of the United States economy opened the opportunity for foreign companies to purchase interests in American companies. Investing in foreign companies creates a global interdependency that can stabilize the economy on a temporary basis. This is also true in reverse.
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As American companies become interdependent on foreign markets and workers' recessions in those marketplaces can negatively affect the American economy. Wendy Smith began writing professionally in But is the steady opening up of global markets about to go into reverse? There was intense debate in Davos on the future of globalization — and the merits of a system that is under fire from populists of every stripe. He was responding to a question on the implications of U. However, there were powerful calls for an open future.
But this is no justification to write off economic globalization altogether.