Positive Impact Of Globalization On Developing Countries – Globalization is defined as the convergence of ideas, values ​​and culture among different peoples of the world. People around the world are discussing different fields of expertise like technology and economics. Ever since the advent of globalization, people have realized its importance in various aspects of life. It facilitated the movement of people around the world and made it easier for people to interact.

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Positive Impact Of Globalization On Developing Countries

Through globalization, countries have been able to realize many of the benefits associated with economic globalization. Therefore, the article explains the importance of globalization, its economic impact on individuals and countries, and how it has affected the international security system and the factors that support the development of globalization.

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The introduction of globalization throughout the world has produced many positive results that have helped the development of individuals and nations. Therefore, the benefits of globalization are discussed as follows.

Due to globalization, many companies have been able to provide employees for better productivity in the companies. That’s because companies with diverse workforces improve productivity due to the diversity of ideas.

Developed countries were able to create job opportunities for people from developing countries, which allowed them to explore untapped resources in developing countries so they could invest in emerging markets (Shiva 2005, 1).

Due to globalization, manufacturers have faced intense competition in the market and this has contributed to the easy availability of products and services at affordable prices. Strong competition in the market has led to the production of quality products and services because domestic companies have no choice but to produce quality products and services to gain an advantage in the market.

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People from different countries enjoy different types of products and services in the market, as companies are forced to produce unique new products and services to survive in the market.

Therefore, it has improved the standard of living of people around the world and improved the economies of countries as they do not have to spend a lot of money to get things they need when they can be bought cheaply from other countries (The Economist 2011, 1).

Many companies have invested in countries with potential, thus increasing the flow of capital. Many developing countries have resources but can invest in developing countries that do not have sufficient resources to explore them, so there is a great opportunity to increase capital flows.

Globalization has given developed countries an advantage to become market leaders due to technologies that many companies in developed countries lack, and this has given them greater opportunities to invest (Shiva 2005, 1).

Impact Of Globalization Essay

Globalization has facilitated exchange between countries because of the agreement on how to conduct business. The established rules and regulations have allowed people to work in different fields of business without any hassle compared to the ancient times when products could be shipped to other countries.

This again raised the standard of living of the individuals as they could get what they wanted at a much cheaper price compared to the time when foreign trade was not legalized.

Therefore, foreign trade became friendly to all because of the existence of organizations such as the World Trade Organization (WTO) (International Monetary Fund 2000, 1).

Globalization has greatly contributed to the sharing of knowledge that has led to innovation among nations. At first, knowledge about technology and innovation existed in western countries, but later it spread to other countries and led to improved health facilities in developing countries. Political and economic knowledge led to better agricultural practices and thus increased productivity.

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In the political department, most countries have achieved democracy, which has led to improved economies in various countries, as individuals are well informed about political issues. This made other countries more powerful because they could exert pressure on other countries’ political systems (Stiglitz 2008, 1).

Through globalization, people have become citizens of other countries because of opportunities to find work or invest. People of different backgrounds have different cultures and when they interact, they are forced to abandon certain beliefs and adopt new values ​​from other cultures that are beneficial for development.

Due to the free interaction between people of different cultures, other people have developed new cultures due to the influence of other cultures and they consider cultural values ​​such as dressing styles, cooking styles and music to be of no importance. and art (Romer 1986, 6).

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Globalization has accelerated the development of education worldwide. People may move from one country to another in search of better forms of education to acquire the knowledge and skills needed for their chosen career paths.

People can also research various projects in other countries to get the knowledge they need to develop their own country. For example, Japan is famous for efficiency and quality, and many countries send their people there to study and apply their knowledge in their own countries (Pankaj 2007, 6).

Before globalization, countries had a hard time prosecuting criminals because of jurisdictions that existed between nations and criminals could escape the law after seeking refuge in other countries. Due to globalization, this problem has been solved by the establishment of international criminal courts, which deal with the cases of criminals by considering them for trial.

Since there was mutual understanding between the security agencies, the countries were able to unite and fight against terrorism. This helped prevent such crimes, thus creating security (Ritzer 1993, 36).

Positive And Negative Impact Of Globalization

Globalization has contributed to the creation of organizations that provide environmental and social services. Nations have come together to create climate and environmental monitoring organizations such as UNEP (United Nations Environment Program) and organizations that help countries reduce production variability.

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Globalization has led to better decisions around the world regarding technology, economy and culture. The impact of economic integration and globalization has brought about many changes in the face of individuals and countries.

To make this aspect of economic integration a reality, technology has contributed to business communication and transportation between countries. Economic integration has contributed to the following benefits (Mulgan 1998, 46).

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Globalization has made dreams come true in businesses as it has enabled many people to get the financial support they need. Before globalization, many companies were unable to access the necessary funds to grow their business because they were limited to local sources of investment, but due to globalization, companies were able to borrow money from other developed countries.

For example, the World Bank is an international organization that allows companies and developing countries to borrow for development at friendly rates (World Bank 1999, 1).

Small business enterprises can also get loans to grow their business because there are groups of non-profits that can be accessed by people all over the world.

In a global economy, companies can seek foreign investors from any country to invest in their business. This has boosted countries’ economies while improving people’s living standards (HPG Summary 2008, 1).

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Economic globalization has led to language change since people from different communities with different languages ​​are involved. Before the advent of foreign trade, many people spoke their native languages ​​when doing business in their own region. Due to globalization, many people have learned other foreign languages ​​for easy communication.

Therefore, some languages ​​are internationally recognized, such as English, which is used as a professional language.

This has led to better communication methods that have brought harmony between nations as people can understand each other and appreciate other languages ​​that people may never have known. For example, Mandarin Chinese is a language that has gained interest among Americans (Naim 2009, 1).

Economic integration has brought changes in the culture of different countries and societies. Through foreign trade, people were able to buy new products from other countries created according to their own culture, which led to an increase in prices

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