Globalization: opportunities and risks for developing countries!

Essay by MagicKiz July 2004

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Development of new technologies and improvements of countries' commerce have led to globalization. This phenomenon can simply explained by the thought that people all over the world as well as their economies and societies move into a vast village together to benefit one another. Consequently, immense wealth and tremendous comfort are strongly provided to everyone worldwide. However, people who live in developing countries find it a big concern when thinking about globalization.

Opportunities of rising income similar to higher living standards are the benefits that people in the world can get from globalization. Firstly, taking part in this worldwide trade offers companies great numbers of chances to improve their business. For example, Chambers of Commerce can increase their country's trade by signing contracts with multinationals. Consequently, wide open markets are given to help them make larger profit. Following this, high technologies have led to the automations in producing goods with even better qualities.

Because of this reason, manual labors are obviously provided with more freedom and relaxation. The last point is the development of health care. As an illustration, people who have been suffering from serious and devastating diseases like AIDS and cancers, especially in the third world, have chances to get better cures with lower prices. This is arising from the supplies of medical treatments for such dangerous and harmful pandemics.

Nevertheless, globalization is also considered as an extreme scare for the others in the world by having bad influences on societies and equity of business's contests. The first point is caused by the economic power of the multinationals putting pressures on local companies. To demonstrate, the extensive disproportion of affordability is absolutely a harmful damage to small companies. For this reason, they cannot keep up with the competitions with large multinationals for selling goods. Secondly, globalization is thought...