He argues that this is because restructuring an entire economy from the top down is almost always bound to fail. This is because these methods often lack feedback from the people of poor nations who are actually suffering. According to Easterly, one of the main reasons foreign aid does not efficiently reach those in need is because the organizations’ top down method does not get past the corrupt governments of these poor nations. To fix this, he argues that aid should be given by a more pragmatic, bottom up approach, going directly to those in need. Easterly also says that aid should be given in a more scientific way, using statistical testing to discern which forms of aid work best.
However, many other people hold the view that Intercultural marriage is the product of economic globalization, and it’s also an inevitable social trend, and which is beneficial rather than harmful. I am in favor of the latter and believe that Intercultural marriage will have more advantages than disadvantages. Those who are the Intercultural marriage argue that the Intercultural marriage will bring about serious consequences. According to the relevant media reported online: the Intercultural marriage is not for
The relationship between that of Globalization and Nationalism Globalization is classed as the infusion of barriers to trade, communication, and cultural exchange. The world today has become very different from what it was previously, because of globalization. The constraints of geography shrink and the world becomes more singular and unified (Waters, 2011). Talking about the positive or negative effect of globalization, some see it as a power that destroys the heritage and culture of different ethnic groups around the world. some of the advantages of globalization are the increase of free trade between countries, cultural barriers are broken down between people, investors in developed countries can invest money into developing countries to
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.
(2009). Since the third world’s countries, generally lag in organizational, technical, financial and social aspects of the contemporary business, the danger that their companies will be marginalized on the market in favor of the big multinational business giants from the developed world, seems quite realistic. The perception of the economic globalization as negative and detrimental phenomenon for the poor nations is often linked with the impact of the structural adjustment programs that many transitional countries had to purse
In addition, advancement of technology, growth in economy, higher living standards likely widen the gap between the rich and the poor and lose the balance in society. Nevertheless, these disadvantages do not outweigh the achievements human obtain through economic globalization. It is well-demonstrated that any nation which does not follow the nature of this process will confront with a lot of political issues, particularly North Korea and Iraq. Due to resistance to foreign influences, two countries have to unilaterally fight with the inner chaos, and watch carefully outer
As mentioned earlier the main reason for tariffs is for the protection of domestic industries. In most cases, these protection turn into a nightmare for the consumers of a particular good and services (Handley & Kyle, 56). These suppliers of specific products and services may take advantage of the unavailability of competition and raise the cost of certain commodities. This cause an economic turmoil in a given country thus affecting the lives of ordinary citizens. On the other hand, international trade is modified in that inflations causes uncertainty that in turns dejects prolific activity, investing, saving and eventually diminishes the competitive factor of a country in international trade.
Globalization is the circulation of ideas and culture in a global scale. It has made the world become increasingly interconnected as a result of increased trade and cultural exchange. Culture can be defined as shared patterns of learned behaviour, attitudes and knowledge. Some of the positive impacts of globalization is that it helps spread culture globally, exposing other people to different cultures, it also instils common values and interest in people creating a more united society. However, globalization also diminishes the presence of local culture in favour of a more influential one and homogenizes society.
In the contemporary society, there are two terms that always well-known to the public-Globalization and trade. Also, the link between human daily affairs and international trade is becoming much closer, which leads to several significant effects such as escalating the progression of all humankind, improving the contact among people who settle in exotic place and booming the financial situation etc. However, being beset by these factors, the majority of the population is still confused by what globalization and trade are. When it comes to globalization, needless to say, that the act or process of globalizing, especially, the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the
Unstable exchange and interest rates 6. Low productivity and 7. Endemic corruption, greed. Given the Nigeria’s socio economic and political disposition Globalization presented more challenges for the country for it lacks what is needed to be relevant and deal with it untill the nation can achieve a certain measure of good governance, modest economic