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Globalization and Developing Countries:
Globalization has become one of the major characteristics of the 21st Century since nations have continued to shift towards it rather than nationalization. The increased globalization can be attributed to improved human activities like trade, industry, and finance. As a result of the increased trend towards globalization, global policies have been developed. These policies highlight networks and solutions instead of controls within national boundaries because of communication advanced, enhanced technology, liberalization, and other factors. The main concept behind globalization is that some factors and activities that are local to certain parts of the world have considerable impacts on other parts of the globe. In essence, these activities and factors become integral to the global community, particularly in relation to integration of national economies (Kasapidis, 1999).
Dangers of Globalization for Developing Countries:
As previously mentioned, globalization basically revolves around the impact of local factors and activities on other parts of the world. The increased globalization in the 21st Century has significant impacts on many countries across the globe i.e. both the developed and developing nations. Notably, globalization has significant...
Some of the major dangers of globalization for developing countries include increased community dumping, environmental damage, and threat to local industries.
The increased community dumping is a likely danger of globalization for developing countries because the process may create an inadequate infrastructure or knowledge on how to produce some products locally. This is closely linked to the threat to local industries since they experience difficulties in manufacturing products that would compete with those in developed countries because of lack of skills and resources. Environmental damage occurs because producers are relocating manufacturing plants to developing countries resulting in environmental pollution in attempts to avoid the stringent environmental laws in developed countries. Therefore, globalization brings special risks for developing countries and market reforms that exacerbate inequality (Birdsall, 1999).
Advantages of Globalization for Developing Countries:
While there are dangers of globalization for developing countries, there are some advantages or opportunities associated with it. First, globalization provides an opportunity for free trade and increased financial…
References:
Birdsall, N 1999, Globalization and the Developing Countries: The Inequality Risk, Yale
Department of Economics, viewed 6 April 2013,
Kasapidis, R 1999, The Opportunities and Dangers of Globalization, Florida Gulf Coast
University, viewed 6 April 2013,
Monetary Fund, viewed 6 April 2013, <http://www.imf.org/external/np/speeches/2003/072103.htm>
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