Updated By: LatestGKGS Desk
The Effects of Globalization on Developing Countries and Economic Development
Effects of Globalization on Developing Countries, negatively in many aspects, growing economic development
Developing countries are affected positively and negatively in many aspects, from internal affairs to external matters.
Globalization can have very strong impacts on a country both positive and negative.
Globalization has helped less developed countries cope with the growing economic development in the rest of the world.
It has solved the poverty problems in these countries. It was impossible for less developed countries due to trade barriers in the past.
The World Bank and International Management encourage these less developed countries to go through market reform.
Many countries started moving towards these changes by removing tariffs and free up their economies.
Due to the contribution of globalization the health and education system in developing countries has benefited in a positive way.
Education has increased in recent years because globalization has created jobs which require higher education.
It is safe to say that globalization has good advantages and negative fights for developing nations in the world.
Globalization can be thought as a tool and depends on how one uses the tool or how often or even in what ways it is used.
Globalization can be good for a Nation depending on the nations and the developing countries investing in it.
