The benefits of globalization for developing countries

Student Answers avasbruce Student There are benefits and disadvantages to globalization. Firstly, globalization is good for certain countries more, such as those in the First World or Global North. Local cultures and traditions change.

The benefits of globalization for developing countries

OccupyTheory on 10 April, at Countries joining together economically view their own selves not just through their national identities, but as part of the world as a whole. Globalization has many benefits and disadvantages and they are here to stay. Basically, the First World or Global North countries are those that will benefit from globalization.

Local businesses and brands in developing nations can go bankrupt as huge corporations in developed nations can dominate the economy of their country. Local traditions and cultures may change. People in poor counties may no longer wear their cultural costumes as they would want to look like the stars in Hollywood.

Also, globalization has made it possible for non-English speaking countries to learn speaking English. More and more schools in developing nations are teaching their students how to speak this global language.

The Top 4 Globalization Advantages 1. Globalization Increases Free Trade Globalization has increased the free trade between countries.

The increases capital liquidity has allowed investors in well developed nations to invest in developing countries. Huge corporations from developed nations have great flexibility to operate in other countries.

Global Mass Media Ties World Together The increased flow of communication has allowed global mass media to tie the world together. Global mass media has allowed vital information to be shared between corporations and individuals around the world.

Globalization has also contributed to greater speed and ease of transporting goods and people. Eradicates Cultural Barriers Countries joining together economically through politics and education have reduced and can even eradicate cultural barriers, and increase the global village effect.

Globalization has seen to be the medium to spreading of democratic ideals to well developed nations and greater independence to developing countries in the Global South. Reduction Of War Reduction of war between well developed nations is probably one of the primary benefits of globalization.

The Top 3 Globalization Disadvantages 1. Decrease Environmental Integrity Globalization has the potential to decrease the environmental integrity as polluting corporations from well developed countries can take advantage of developing nations weak regulatory rules.

The Seek For Cheap Labor Globalizations increases of non-skilled and skilled jobs from developing nations to well developed countries as huge corporations seek for cheap labor. This economic trend can also increase the likelihood of economic disrupt in a single nations, which could affect all nations.

Limits Cultural Expressions Globalization imposes threat to mass media being controlled by huge corporations. This could limit the cultural expressions.

This means that mass media can be used by handful corporations to pose risks in the cultural heritage of both well developed and developing nations. Globalization is a global economical trend that is here to stay. It has advantages and disadvantages, and these things will not disappear.

People just need to know how to reap its benefits and reduce its risks. People must understand its impact globally, and work altogether to remedy the problems that may arise in the future.

Expert Answers

All countries in the Global North and Global South must work altogether to spread its benefits.Globalization has very limited advantages to developing countries which "dream" about economic growth. Influential stronger countries will benefit much more in terms of hegemony over a wide range of issues.

Diversity, prior to this trend for globalization, was a source of richness to this world. The Top 4 Globalization Advantages. 1. Globalization Increases Free Trade Globalization has increased the free trade between countries.

The increases capital liquidity has allowed investors in well developed nations to invest in developing countries. Some disadvantages of globalization include exploitation of developing countries, cultural homogenization, and adverse effects on local economies and the environment.

One of the major potential benefits of globalization is to provide opportunities for reducing macroeconomic volatility on output and consumption via diversification of risk. Jun 30,  · The spread of globalization has brought many positive changes to developing countries with increased wages, educational opportunities and health care.

The benefits of globalization for developing countries

The core benefit of globalization is the comparative advantage—that is, the ability of one country to produce goods or services at a lower opportunity cost than other countries. While the idea seems simple on the surface, it quickly becomes counterintuitive when examined more deeply.

The benefits of globalization for developing countries
The Effects of Economic Globalization on Developing Countries |