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

#merits #demerits #globalization #nations
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It is an adage that each coin has two sides,
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similarly
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,similarly
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 globalization for
countries
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 that are still in the process of development has both positives and negatives.
This
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 essay will discuss both sides of globalization in the forthcoming paragraphs.
To begin
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 with, a positive aspect of internationalism is that, when a nation grants permission to establish its company branches in various
countries
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, it creates numerous opportunities for employment,
such
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 as international companies like HSBC, Amazon and IBM have created a number of job vacancies and
also
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 gave
people
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freedom
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the freedom
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 to work and earn in their own
countries
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.
In addition
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 to
this
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, when these firms engage in trade with other
nations
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, they develop their market internationally, which in turn brings in foreign currency and elevates the economy of the developing
nations
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. The cash flow of different currencies boosts the GDP which is a crucial factor for a nation to move towards development.
On the other hand
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,
people
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 have adopted the other
nations
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’ cultures and lifestyles, while ignoring their own values and traditions. It reflects in food, clothing and even living style. As a consequence, the traditional culture of
countries
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 is on the brink of extinction.
For instance
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, in
countries
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 like India, traditional wear like salwar suits, saree, etc. is losing its essence because the females prefer to wear western clothes like jeans, short-dresses, etc.
Moreover
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, when
people
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 commute to different
nations
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 for tourism, official meetings, and conferences, there are chances of spreading contagious diseases like swine flu, coronavirus etc.
such
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 as the recent pandemic of COVID19 which has spread to every nook and corner of the world because of transnational travel by different
people
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. It can be concluded that transnationalism is beneficial to the proliferation of developing
nations
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 because it allows
people
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 to dwell, work and connect anywhere in the globe.
However
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, the negative points of globalization
also
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 should be taken into consideration by individuals as well as governments of different
countries
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.
Submitted by Manpreet Kaur on

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