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The Positive And Negative Effects Of Globalization And Developing Countries

1186 Words5 Pages

Globalisation refers to a more ‘integrated and ‘connected’ world. Globalisation is a move towards a more interconnected world where societies, cultures and economies depend on each other. Globalisation has encouraged 'international mobility of capital, result from advances in communications technology and liberalisation of financial markets has intensified as the world economy witnesses the unleashing of market forces’. (Onwuka and Eguavoen, 2007, 45) There is no doubt that globalisation has positive and negative affects for the developing world. After researching globalisation and how it has affected developing countries the author will argue that globalisation has not had a primarily negative affect on developing countries. Globalisation has encouraged developing countries to open up their borders and encourage FDI and trade. This has been very affective to the economy of many countries including China. Globalisation has also had a positive affect on poverty in developing countries.
1978 saw the most recent wave of globalisation, it had a dramatic affect on Chinas economy as it opened to the outside world. During this new wave of globalisation developing economies changed from an inward focused strategy to an outward oriented one. China’s ratio of trade to nation income has more than doubled and countries such as Mexico, Thailand and India have seen large increases as well. (Dollar, 2005). China’s open-door policy seen massive increases in FDI (foreign direct

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