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

Globalisation has opened doors of opportunities for developing
countries
and low-income
countries
. It has helped them in bridging the gap of Income equality In their respective
countries
. It has created opportunities
also
for developed
countries
. ,
However
Add a comma
,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
in the world specifically in
countries
like the USA, Canada,Uk .etc.
For example
companies
like Google, Microsoft, and Facebook have greatly benefited because of free
trade
policies
in several
countries
.
However
,
policies
like free
trade
agreements and the relaxation of the import of goods have created lots of problems in developing
countries
. 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
policies
have killed so many sectors of the economy like retail, agriculture, and mining . It has become a tool for
companies
like DUPONT, and WALMART to kill competition in local markets . So that
Companies
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
policies
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
it provided sufficient evidence for economic progression .
Therefore
it has become a problem for developing economies.
Submitted by yash334 on

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