Globalization fuels exploitation of developing countries

They present their approval for this phenomenon by rejecting various arguments against it, stating that, in general, globalization is beneficial for everyone. This paper, on the other hand, will argue that as we become globally interconnected, developed countries, with the help of international institutions, can take advantage of this growing phenomenon by exploiting the cheap labor forces and natural resources of developing countries.

Globalization fuels exploitation of developing countries

Contacts Globalization and its effects on developing countries Globalization — the growing integration of economies and societies around the world — has been one of the most hotly-debated topics in international economics over the past few years. Rapid growth and poverty reduction in China, India, and other countries that were poor 20 years ago, has been a positive aspect of globalization.

But globalization has also generated significant international opposition over concerns that it has increased inequality and environmental degradation. But what is the concept of globalization?

Globalization is the most talked and debated issue in the contemporary world. It is a concept that escapes precise definition. In most cases, it is described rather than defined. Some commentators have described globalization as a stage of capitalism or late modernity and some remarks that globalization is a new way of thinking.

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However, it does not mean the same thing for all. For some, globalization is a process of opening up economies so that trade between countries could take place freely.

For them increasing globalization has helped the expansion of opportunities for nations and benefited workers in rich and poor countries alike. Brings positive benefits for consumers, helping to increase choice, drive down prices, improve services and create new jobs and opportunities.

Globalization can therefore be seen as a positive force for change that has the potential to raise living standards and drive economies forward. However, this is not readily acceptable for all.

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Many think globalization as the concerted strategy of the industrial world, particularly of the Multinational Corporations, to safeguard their interest and spur a new form of colonization.

After opening of market, LDC [1] will become a supermarket of foreign goods, which are cheaper, killing local industries, increasing many more jobless.

For them, globalization means increasing poverty and deteriorating living standard of the workers, widening disparity between the rich and the poor within the country and also among the countries, and internationalization of capital to the detriment of labor market.

Even for the moderates, globalization is a process of restructuring the world economy to find ways for business to maximize profits. The IMF [2]the World Bank [i] and the WTO [3] and more generally, the high income countries are held responsible for influencing and largely determining the course of the globalization process.

They are also seen as the driving forces behind the policy reforms that the developing countries had to implement as part of their structural adjustment programs under the supervision of the IMF [ii]the World Bank and the WTO.

It is obvious that those countries and organizations will only foster their own interests. Globalization has become an unstoppable phenomenon affecting all aspects of our lives. Some Governments, political parties and trade unions often view this development as at best challenging and at worst sinister.

Globalization fuels exploitation of developing countries

Business and their representative organizations, on the other hand, promote the benefits of open trade across political boundaries and the integration of markets to create global opportunities. Globalization is a process of increasing economic and non-economic linkages across the world. In the broadest sense Globalization implies integration of economies and societies across the globe.

It is equated with the massive, irresistible cross-border flow and integration in the movement of goods, technology, labour and capital, resulting mainly from breakthroughs in transportation and communication.

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In a wider perspective globalization, covers various activities such as cultural globalization, political globalization, ecological globalization, economic globalization and so on. But here I am mainly discussing economic globalization and as the same time try to cover some other aspects of globalization too.

Economic globalization implies increasing global inter-linkages of the markets in goods, services, capital and financing.Alternative Tourism In Developed Or Developing Countries Tourism Essay. Sustainable touristry is the environmental, economic, and socio-cultural facets of touristry Globalization Fuels Exploitation of Developing Countries by Developed Countries Essay.

This part of the web site looks at the issue of trade and poverty and the relationship between them. International trade has been accompanied by some unfair practices by many nations, undermining human rights.

Most wars are fought over access to resources. Some people call the current global trading model modern colonialism.

Do you think that the low-wage factories of the multi-national corporations, located in countries such as China, Bangladesh or Mexico, represent exploitation or opportunity? In the history of the mankind, the need of resources was the most important factor for political, technological, economic, social evolutions.

In modern. Another major complaint about the World Bank (as well as the IMF) is its role in causing high debt among developing countries. Although the World Bank’s loans are intended to help countries, they also cause those countries to take on debt that they must pay interest on .

Developing countries include, in decreasing order of economic growth or size of the capital market: newly industrialized countries, emerging markets, frontier markets, least developed countries.

Therefore, the least developed countries are the poorest of the developing countries.

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