Essay On Advantages And Disadvantages Of Globalization In Developing Countries

Globalization is a change of a country in order to exchange and work with other countries or in other words is a process of global economic, political and cultural integration. Globalization play an integral part in developing countries, it creates more opportunities as well as more benefits for country’s economic development, especially the industry which receives lots of advantages from the alteration. Industry includes many different fields such as tourism, food processing, clothing, electronic and mechanical products making, etc. Therefore, it is really important for a country’s economy. However, it is not true that all effects of globalization are positive, but it also brings up many new challenges and disadvantages such as competition with other countries for goods, instability in commercial and financial market and also environmental contamination.

Globalization creates favorable conditions for the development of developing countries. One of the favorable conditions is that those countries, if proactive, flexible and creative in integration, will get many comparative advantages in international economic relations, contributing to the foreign investment attraction (According to UNCTAD's World Investment Report, in 1996, developing countries received $ 129 billion in FDI,

Two of the many development directions are: firstly, the introduction of advanced technology from developed countries to build up their industries more and more growing and modern. Secondly, developing countries import patents, inventions to research and apply in production and create a modern industrial base. Depending on the capital, capacity, wisdom,etc, developing countries choose one or both of these directions. But it depends on the ability of individual countries to find the appropriate short-term industrialization