Globalization Can Have a Negative Impact on Developing Countries. Argue.

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  • Topic: Globalization, World Trade Organization, International Monetary Fund
  • Pages : 1 (371 words )
  • Download(s) : 891
  • Published : April 27, 2008
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Globalization, the emergence of a global society in which economic, political, environmental and cultural events in one part of the world quickly come to have significance for people in other parts of the world. It is said that globalization has both negative and positive aspects. This essay will discuss both of them on their own merits. The bad impacts of globalization broadly criticized in the media. Globalization has made it possible for infectious diseases to spread rapidly around the globe. In 2003, for example, a deadly form of pneumonia known as severe acute respiratory syndrome (SARS) originated in China and quickly posed a worldwide health threat as airline passengers infected with the virus spread the illness. Furthermore, inequalities in living standards and participation in the global economy are serious political problems in an era of globalization. Some countries have failed to function at even a minimum standard of basic competence in the globalized economy. Consequently, the only profitable economic activity in some of these countries is linked to criminal behavior, such as the trade in illegal drugs, smuggling, and extortion of various kinds. On the other hand, most experts believe that the process of globalization has bettered the world that we are living in. The establishment of some international institutions, such as the United Nations (UN), the International Monetary Fund (IMF), the World Trade Organization (WTO) is evidence of the good things that globalization can bring. Those institutions have been trying their best to have countries, to resolve disputes in every corner of the world. The IMF, for instance, provides loans to countries that have accumulated foreign debt so that they can maintain the value of their currencies and repay. In addition, globalization, to some extent, is the advance in communications which instantly unite people around the globe. Global television can broadcast news of far away events, such as wars and national...
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