What are the merits and demerits of globalization on developing nations?

Globalization has resulted in more business and cultural contacts among various nations.

This

also

means that people around the globe are more connected.

This

situation has both pros and cons which we can discuss in the following paragraphs.

Firstly

, there are many benefits of

this

extension. Mainly, more job opportunities. Multinational companies are open worldwide, offering jobs to thousands of people.

Secondly

, the growth in economy with the efficient trade between countries.

Thirdly

, cultural awareness, which can be acquired with the travelling to vast cultures of different countries.

Moreover

, today people have more choices of products because of

this

world-wide integration. Proliferation has

also

allowed a significant rise in the level of technology used in today’s world.

For example

, E-commerce procedures in majority of businesses.

On the other hand

, it can lead to job insecurity. Globalism has led to firms outsourcing their jobs to developing countries, which have led to lesser jobs in developing countries.

In addition

, it led to fluctuation in prices of products. It has promoted to the escalation of the marketing competition on the international economies.

Furthermore

,

such

development is viewed by many as a threat to the world's cultural diversity. Internationalization uses up finite resources more quickly. As an example, China joined the world trade organization in December 2001. In 2002, its coal use began rising rapidly. To summarize globalisation can be said to be good, bad and inevitable. People want the good to outweigh the bad, but prolonged exposure to globalisation is something

that is

inevitable. The only solution is to make use of the resources of the nature in the best manner possible for both the betterment of businesses and society.