preview

world business and trade

Satisfactory Essays
4. Discuss the positive and negative aspects of globalization in 3rd world countries.
Globalization is a process to create a more open world, in many areas, some of which cover politics, economics, law and media. According to Mojmir Mrak, ( 2000) globalization is the process of continuing integration of the countries in the world it is strongly underway in all parts of the globe. The third world countries comprise of the whole of Africa, Asia (apart from the Soviet Union, China, Japan, Latin America and Oceanic islands), Australia and New-Zealand, consist of third world countries. Globalization is the tendency of investment funds and businesses to move beyond domestic and national markets to other markets around the world, thereby enhancing mutual different markets. Globalization has had a significant impact not only the increase of international trade, but also cultural exchange.
The negative impact of globalization in a third world country is impacted on the economy. Globalization, economically talking, involves the integration of world trade and financial markets, but given that developing countries are not really catching up with the advanced economies, the impact of globalization on the Third World Countries, leaves much to be required. In the arena of world trade, the share of primary commodities in world exports of items such as food and raw materials has declined relatively in recent times. In the area of capital movements, it is noticed that the net official flows of “aid” or development assistance from the advanced economies to the Third World Countries have dwindled significantly since the early 1980s. Regarding, the movement of people from the poorer zones to the richer zones, it is noted that there is an increase in...

... middle of paper ...

...(2012). The Impact of Globalization on Third World Countries.Available: http://ydesh.com/world/the-impact-of-globalization-on-third-world-countries/. Last accessed 2 Jun 2014.
2. Mojmir Mrak. (2000). Globalization:Trends,Challenges and Opportunites for Countries in Transition. GLOBALIZATION AND THE INTEGRATION OF INDUSTRY IN THE REGION. 1 (1), p3-8.
3. Manjusha Nair. (2014). Essential conditions for globalisation. Available: http://www.scribd.com/doc/50029603/Essential-conditions-for-globalisation. Last accessed 9 June 2014.
4. Justice And Government. (2011). Positive Effects of Globalization.Available: http://www.justice4darfur.org/positive-effects-of-globalization.html. Last accessed 9 June 2014.
5. Investopedia US, A Division of IAC. . (2014). Definition of 'Globalization.Available: http://www.investopedia.com/terms/g/globalization.asp. Last accessed 9 June 2014.
Get Access