Essay on The Impact Of Globalization On Developing Countries

Essay on The Impact Of Globalization On Developing Countries

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Globalisation is a process of raising integration and inter-dependence between countries around the world. It can be shown from greater trade in goods and services, massive transfer of financial capital and technology, better specialisation in production and more labour migration between the world’s economies. As highlighted the booming of the four largest emerging economies, which are named as BRIC (Brazil, Russia, India and China), is one of the most successful results of globalisation. Nonetheless, little attention is paid to the different problems behind this rapid global economic integration.

The purpose of this essay is to examine the detrimental factors of globlisation to developing countries despite several benefits, and show that it has not been significantly beneficial. It will begin by analysing how emerging economies can be helped by the worldwide integration in terms of the transfer of technology and employment. Three constraints, which are the increased poverty outside China, the ‘Brain Drain’ and the sweatshop problems, will then be addressed. Finally there will also be a focus on the impact of this form of integration in China after the conclusion.

There is significant evidence to suggest that the flow of technology is a considerable benefit to developing countries from globalisation and it could be achieved by off shoring (the practice of moving employees or certain business activities to foreign countries) or creating foreign subsidiaries from multinational companies. According to Niosi et al,. (1995) Large multinational corporations (MNCs) normally have their own internal patented technology, and it usually can be transferred inside the company only. Opening up subsidiaries in developing countries could transf...


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...een achieved successfully through the worldwide economics integration. On the other hand, this integration could also cause three potential problems, which are extended poverty in most of developing nations except China, the ‘Brain Drain’ problem and inferior working conditions. Therefore, this essay has proven that the impacts of globalisation have not been largely beneficial to developing economies. However, the impact of this in China is a particular case. Admittedly, China has been benefited remarkably by it. The reason behind is that China managed globalisation carefully, which based on their single-party system, this enables them to maximize the welfare from it. Whilst other emerging countries may not have the same political condition to obtain it, they might have been affected by the worldwide economic integration directly and not gain considerably benefits.

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