Apter (2002, p.13) stated: “The truth is that if one can’t live with globalization, one can’t live without it either. Its consequences are many and diverse. But the devil is in details”. An analysis of globalization’s impact on economies of developing countries points out that globalization is a negative trend that widens the gap between wealthy and poor, exploits resources, and makes developing countries more depressed and marginalized. Harmful Impact of Globalization on Developing Countries Negative Trends, Deception, and Role of Multinational Companies Globalization facilitates integration of economies in terms not only of services and goods, but of technology, information, and ideas (Birdsall, 1999).
I. Introduction ‘Globalization’ has been defined as “a phenomenon by which economic agents in any given part of the world are now affected by events that occur elsewhere than ever before.” Since the end of World War II, there has been a significant increase in economic growth and the standard of living as globalization has become a dominant force. However, globalization has negative implications as well in which it has contributed to the large disparity of wealth, and created a volatile market environment. Skeptics argue that globalization has “passed its peak” in which national governments have turned to protectionism in order to reduce its negative effects. Advocates of globalization argue that the integration of markets is ultimately irreversible, and attempts to block globalization have resulted in detrimental effects not only to global economy, but to domestic economy as well.
and ?Prometheus Bound.? Greek Tragedies: Volume 1. The University of Chicago Press: Chicago, 1991. 178-232, 65-106. Grene, D., and Lattimore, R., eds.
For example, there are far greater demands placed on policymakers and nations are now more interdependent than ever before. Whereas during the first wave policymakers believed that national success depended on protectionist measures such as international competition and blocking access to certain markets, globalization today dismisses such notions. Thus, it is evident that present globalization builds upon the past, but is also forging its own unique path.
Be complete. The difference in the political economy has often been a major impediment to the growth of international trade among nations. Inflation rates, consumer spending, wars, tariffs all affect international trade. “Trade also brings dislocation to those firms and industries that cannot cut it. Firms that face difficult adjustment because of more efficient foreign producers often lobby against trade.
1.1) Moreover, the global imbalances also make capital flowing incorrectly, from developing countries to advanced countries, from advanced countries to other advanced countries. This makes developing countries with fast productivity growth show capital outflows and vice versa, leads to the surplus of developing... ... middle of paper ... ...nces discussed above. Right now, the global economic is recovering, but the study of reasons of the crisis still teaches many countries a lesson on how to build a solid financial system and how to deal with other macroeconomic problems. Works Cited Ferguson et al. International financial stability.
 Carl N. Degler. The New Deal. Chicago: Quadrangle Books, 1970. 14.  Carl N. Degler.
“The globalization both production and capital has the affect of limiting the effectiveness if states in managing their own economies, and limiting their ability to adapt policies that are not seen to be market friendly” (Goudie 531). People’s ability to communicate across the borders, suggests that globalization has effected just about every part of the world in some way. Globalization can be put into many different forms or categories based on what part of the world it effects. Economic globalization would probably be one of the most familiar forms. This form of globalization refers to the growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions in goods and services (Soleymani 2010).