The Negative Impact Of Globalization On Developing Countries

Globalization has been changing the world for the past 70 years. It is described as “the process by which economic, political, cultural, social, and other systems of nations are integrating into world sub-systems” (Clark, Hodis, & D’Angelo, 2009). Globalization is ubiquitous and the shadow of globalization can be seen from many aspects such as culture, technology, education and medicine. A platform for the development of all countries is provided by globalization, an increasing number of countries are involved. However, with the acceleration of the globalization in recent years, especially in the developing countries, there are some problems have also been exposed from globalization, and it is believed that globalization has a bad impact on

Firstly, globalization can bring advanced agricultural technologies to developing countries. Due to the rise of globalization and the implementation of free trade policy, the exchange of agricultural trade is also more frequent. Therefore, there are more opportunities to exchange agricultural technologies. Developing countries can obtain more advanced agricultural technologies from developed countries, advanced agricultural technologies have solved many practical problems in developing countries who have benefited greatly from it. For example, the World Bank reports that since the 1950s, developing countries in Asia and Latin America which have used hybrid corn and rice seeds and their production of major crops more than doubled (as cited in Mukherjee & Krieckhaus, 2011). The United Nations Development Program (UNDP) states that the increase in crop yields has played an important role in ending the famine in South Asia, reducing malnutrition from 40% to 23% between the 1970s and 1997 (as cited in Mukherjee & Krieckhaus, 2011). Secondly, the development of medical technology has also been accelerated by globalization. It makes the exchange of information more and more frequent, and people in developing countries can obtain some medical knowledge through the media. For instance, according to Victoria

Firstly, it claims that the dangers of the financial crisis will be amplified by globalization. For example, according to Hwang (2015), the Asian financial crisis quickly spread to other parts of East Asia and Southeast Asia, beginning with the bursting of the asset bubble and the collapse of the Thai baht in July 1997, the speed and scale of the collective financial collapse in Asia is comparable to the Great Depression of the 1930s. The trend of economic globalization has made the global economy more immediate (Hwang, 2015). As economic interdependencies increase, the economic conflict in any one country may cause external economic imbalance, which will influence other countries linked to its economy. It may be true that one country 's financial crisis may spread to countries which have economic ties with it. However, it is also related to the response of the affected countries in the face of the financial crisis. For instance, the Chinese economy was also seriously affected by the U.S. economic crisis in 2008, however, domestic investment and consumption cushioned the negative impact due to the proactive expansionary policies (Xue, He, & Shao, 2012). So, China did not appear to have been much affected, smoothly through the financial crisis in 2008. Secondly, some people