What are the merits and demerits of globalization on developing nations?
It is an adage that each coin has two sides,
similarly
globalization for Add a comma
,similarly
countries
that are still in the process of development has both positives and negatives. This
essay will discuss both sides of globalization in the forthcoming paragraphs.
To begin
with, a positive aspect of internationalism is that, when a nation grants permission to establish its company branches in various countries
, it creates numerous opportunities for employment, such
as international companies like HSBC, Amazon and IBM have created a number of job vacancies and also
gave people
freedom
to work and earn in their own Add an article
the freedom
countries
. In addition
to this
, when these firms engage in trade with other nations
, they develop their market internationally, which in turn brings in foreign currency and elevates the economy of the developing nations
. 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
, people
have adopted the other nations
’ 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
is on the brink of extinction. For instance
, in countries
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
, when people
commute to different nations
for tourism, official meetings, and conferences, there are chances of spreading contagious diseases like swine flu, coronavirus etc. such
as the recent pandemic of COVID19 which has spread to every nook and corner of the world because of transnational travel by different people
.
It can be concluded that transnationalism is beneficial to the proliferation of developing nations
because it allows people
to dwell, work and connect anywhere in the globe. However
, the negative points of globalization also
should be taken into consideration by individuals as well as governments of different countries
.Submitted by Manpreet Kaur on
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