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

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Globalization breached the barriers between nations and bought the entire world onto a single platform.
Although
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it has got many benefits,
third
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world countries face their own shortcomings owing to
this
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. In
this
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essay,
firstly
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, I will elaborate on merits and
secondly
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, demerits due to
this
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change.
To begin
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with,
availability
Correct article usage
the availability
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of employment opportunities to the youth and skilled professionals in the developing states skyrocketed due to the fact that, it urged the industrialised nations to attract multifaceted foreign nationals with a repertoire of skills.
This
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in turn improved the standard of living of people in the impoverished areas and
further
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contributed to the development of
service
Correct article usage
the service
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sector, which massively improved
country's
Correct article usage
the country's
show examples
revenue and fueled the progress.
For instance
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, the non-resident Indians have been contributing enormously to the Indian economy by transferring funds to the motherland, which
consequently
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is succouring to raise the purchasing power of the local people.
Thus
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, globalisation indirectly is beneficial to industrialising territories in
this
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aspect.
In contrast
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, brain drain is one of the major perplexities of
this
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. It is because of the high salaries offered by industrialised superpowers, experts leave their native place,
this
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expatriation renders the weaker nations vulnerable by decreasing their productivity and economic activity.
For example
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, numerous software engineers and doctors migrated to the USA in view of greater income and
this
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led to precious talent emigration.
Hence
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, brain drain has a huge negative impact on the emerging unions. To conclude, though it has got certain predicaments, the advantages outweigh them.
Therefore
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, it is definitely a boom for people in underdeveloped territories.
Submitted by aluriganesh515 on

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