Effects Of Globalization On Developing Countries
Does Economic Globalization Give Positive Impact to Both Developing and Developed Countries?
Globalization, a very recently used term in the international society. The term globalization means to merge with the international society in lots of aspects such as in culture, ideology, politics, and trade. Amongst these aspects which builds up globalization, global trade had grown in the human history even before the age of colonialsm. As an example, the italian nation had a very prospering economy back in the renaissance ages ( Which lasted from 1300 to the 1700s ) which was a result from the professionalism of the italian producers to manufacture and trade items to foreign countries, which then result in a prospering income which supports the …show more content…
Communism endorse state monopolization and a stagnant behaviour on innovation and creativity. Since economic globalization took influence in ex-communist countries for example China, now had opened up a chance to foreign countries to invest directly to China. Due to communism ideals, recieving a direct investment from foreign countries was highly restricted back then. Therefore, this effect made China a powerful symbol of economic globalization today (Carter, 2007). This shows how powerful economic globalization can create dynamism moreover in developing countries, which lead to a positive change. As we can see today, the change created space for people to innovate with the influence from the west, giving more open ideals to also create an original product which happens a lot in developing countries.
Globalization is the largest chance for a nation to be lifted out of poverty, and a good chance for countries with economic transition to get along with the international trade since foreign investors are attracted to transfer capital in countries with cheaper labor fee. Economic globalization is also a way to cover the shadow of globalization which lingers around territorial conflicts and tradition-based decision making with less-life threatening power which businessmen, financers, and bankers possess
Globalization, a very recently used term in the international society. The term globalization means to merge with the international society in lots of aspects such as in culture, ideology, politics, and trade. Amongst these aspects which builds up globalization, global trade had grown in the human history even before the age of colonialsm. As an example, the italian nation had a very prospering economy back in the renaissance ages ( Which lasted from 1300 to the 1700s ) which was a result from the professionalism of the italian producers to manufacture and trade items to foreign countries, which then result in a prospering income which supports the …show more content…
Communism endorse state monopolization and a stagnant behaviour on innovation and creativity. Since economic globalization took influence in ex-communist countries for example China, now had opened up a chance to foreign countries to invest directly to China. Due to communism ideals, recieving a direct investment from foreign countries was highly restricted back then. Therefore, this effect made China a powerful symbol of economic globalization today (Carter, 2007). This shows how powerful economic globalization can create dynamism moreover in developing countries, which lead to a positive change. As we can see today, the change created space for people to innovate with the influence from the west, giving more open ideals to also create an original product which happens a lot in developing countries.
Globalization is the largest chance for a nation to be lifted out of poverty, and a good chance for countries with economic transition to get along with the international trade since foreign investors are attracted to transfer capital in countries with cheaper labor fee. Economic globalization is also a way to cover the shadow of globalization which lingers around territorial conflicts and tradition-based decision making with less-life threatening power which businessmen, financers, and bankers possess