The Impacts of Globalization on Developing Countries

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Globalization, love it or hate it, but you can’t escape it. Globalization may be regarded as beneficial from an economic and business point of view, but however cannot be perceived the ditto when examined from the social sciences and humanities side of it. Globalization can be argued as a tool for economic growth, advancement and prosperity through co-operation between the developed and developing countries. The pro-globalization critics argue that the benefits that globalization brings to developing nations surpasses or outcasts the negative impacts caused by globalization and may even go a step further to state that it is the only source of hope for developing nations to prosper and stand out. However, the real question to be asked is as to what extent are the positives argued upon without taking into account the negative aspects of globalization towards developing countries. Moreover, how many developing countries out of many are exactly benefiting or even prospering from globalization is another question to consider. Therefore, my paper will dispute that indeed growth and advancement provided by globalization to developing countries is beneficial in short-term, but in the long-run, it will only bring upon negative impacts and challenges due to the obstacles involved such as exploitation of labour and resources, higher increase in poverty, and effects of multi-national corporations on local businesses and the economy, and to an extent the effects on the developing country itself. One of the many negative effects that accommodates with globalization on developing countries is exploitation of labour. With a competitive global market, inflation, and cheaper labour costs in developing countries, exploitation of labour is readily... ... middle of paper ... ...ry, n.d. Web. 14 Nov. 2013. . 2. Digal, Santosh. "INDIA India, world hub in human trafficking - Asia News." INDIA India, world hub in human trafficking - Asia News. Asianews, 15 July 2010. Web. 14 Nov. 2013. . 3. Mayer, Robert. "Sweatshops, Exploitation, and Moral Responsibility." Journal of Social Philosophy 38.4 (2007): 605-619.Wiley Online Library. Web. 4 Jan. 2012. 4. Winkler, Sarah. "How Alang Shipyard Works." HowStuffWorks. HowStuffWorks.com, 15 July 2008. Web. 14 Nov. 2013. . 5. "Globalization, Growth and Poverty." www.idrc.ca. Version 1. GGP, n.d. Web. 14 Nov. 2013. .

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