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

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Globalisation has opened doors of opportunities for developing
countries
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and low-income
countries
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. It has helped them in bridging the gap of Income equality In their respective
countries
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. It has created opportunities
also
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for developed
countries
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. ,
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However
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,However
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it has both merits and demerits . let us discuss them in detail. Liberation has created jobs for populations across the globe . It has created impurities for people . Technology advancement in recent times has resulted in the creation of billion-dollar
companies
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in the world specifically in
countries
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like the USA, Canada,Uk .etc.
For example
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companies
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like Google, Microsoft, and Facebook have greatly benefited because of free
trade
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policies
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in several
countries
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.
However
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,
policies
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like free
trade
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agreements and the relaxation of the import of goods have created lots of problems in developing
countries
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. They have to take care of the basic problems of food , electricity and sanitation Issues . These problems are vastly present across Africa and Asia. Free
trade
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policies
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have killed so many sectors of the economy like retail, agriculture, and mining . It has become a tool for
companies
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like DUPONT, and WALMART to kill competition in local markets . So that
Companies
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like Nestle and Amway has able to thrive in the market. A social problem like unemployment has emerged resulting In a dent in these developing economies. To conclude , It is evident that free
trade
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policies
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have merits and demerits of their own . In some ,economies It has been proven successful and in ,some it has resulted in economic choices . Not only but
also
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it provided sufficient evidence for economic progression .
Therefore
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it has become a problem for developing economies.
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