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

Globalization breached the barriers between nations and bought the entire world onto a single platform.

Although

it has got many benefits,

third

world countries face their own shortcomings owing to

this

. In

this

essay,

firstly

, I will elaborate on merits and

secondly

, demerits due to

this

change.

To begin

with,

availability

Correct article usage

the availability

show examples

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

in turn improved the standard of living of people in the impoverished areas and

further

contributed to the development of

service

Correct article usage

the service

show examples

sector, which massively improved

country's

Correct article usage

the country's

show examples

revenue and fueled the progress.

For instance

, the non-resident Indians have been contributing enormously to the Indian economy by transferring funds to the motherland, which

consequently

is succouring to raise the purchasing power of the local people.

Thus

, globalisation indirectly is beneficial to industrialising territories in

this

aspect.

In contrast

, brain drain is one of the major perplexities of

this

. It is because of the high salaries offered by industrialised superpowers, experts leave their native place,

this

expatriation renders the weaker nations vulnerable by decreasing their productivity and economic activity.

For example

, numerous software engineers and doctors migrated to the USA in view of greater income and

this

led to precious talent emigration.

Hence

, brain drain has a huge negative impact on the emerging unions. To conclude, though it has got certain predicaments, the advantages outweigh them.

Therefore

, it is definitely a boom for people in underdeveloped territories.