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Gloablisation and Its Affect on Business in Industries in Developing Countries

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Globalisation

In this essay I would be examining how globalisation has affected business influence on industries in developing nations and what impact does is have on our environment.
I will begin by briefly reintroducing you to what globalisation is and what changes in brings. Then I will move on to answering the first part of the question referring to a few resources and examples, during this discussion I will also state my opinion on this matter. The second part of the question will be answered in the same manner as the first one. After the main body of my argument I will summarize and conclude.

Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalisation brings many benefits such as freer movement of capital, goods, and services; bigger companies are now able to operate in more than one country and because of that there are more jobs in less economically developed countries (LEDC’s). Of course there are a few disadvantages such as an intense competition and widening gap between rich and poor countries.

First, I will examine if globalisation actually has strengthened and benefited industries in developing nations.

One of the major advantages of globalisation to LEDC’s is that trade barriers are significantly lowered or removed completely. This promotes and encourages exports to new countries because before LEDC’s simply could not afford to export their goods to major countries such as USA or UK due to high import taxes they have set, so it was simply not worth it. But with free access to new markets LEDC’s have access to a much greater customer base and that should, in theory, significantly boost economic growth. Empiri...

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...hat idea from functioning properly. From the evidence and statistics it looks like globalisation did more harm to developing nations than it did good. That might be because bigger countries can manipulate IMF, World Bank and WTO to their own advantage without actually breaking any rules. To me, globalisation just seems like a peaceful way for rich countries to rob and exploit poor countries. I agree that in some developing countries globalisation was beneficial and boosted their economics growth, but there are not that many examples of that, I would say that those countries are an exception because according to World Bank statistics the majority of LEDC’s with strong import liberalization have experienced anemic or negative growth over the past 20 years. So all in all I believe that globalisation is a great idea and concept but it is not suitable for today’s world.
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