Globalisation has a negative impact on developing coutries. To what extend do you agree or disagree with this statement.
Globalisation has become one of the most popular growing trends in modern societies. Some people say that globalisation has negative effects on developing countries whilst others insist that many developing countries benefit from globalisation. This essay will argue for globalisation by focusing on trade liberalisation and global equality.
The first positive impact globalisation has on developing countries is trade liberalisation. Opponents of globalisation would argue that developing countries are economically controlled through globalisation whereas supporters argue globalisation creates free trade opportunities for developing countries. Globalisation requires trade barriers to be removed, which may make industrialised countries’ markets easily accessible. Furthermore, investment liberalisation has encouraged multinationals to invest in developing countries. This may result in the development of the countries’. An illustration of this is India whose rank in global economy was promoted from 80th in 1991 to 4th in 2001.
Secondly, it may be true that globalisation leads to an increasing gap between the rich and the poor but globalisation promotes the global equality between developed and developing countries. The former helps the latter by means of direct foreign investment through non-government organisations assisting in infrastructure improvement and development of the society. For instance, Japan International Cooperation Agency (JICA) has been supporting Vietnam in major areas such as environment, education and public health. In addition, there are international organisations established to balance benefits and protect rights amongst countries, namely the United Nations (UN), the World Bank (WB), and the World Health Organisation (WHO).
In conclusion, globalisation brings massive benefits for developing countries, especially free trade and global equality. With the help of industrialized countries and international organisations, developing countries may enhance not only the economic situation but also political position worldwide.