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Showing posts with the label Economic Globalization And The Effects On Country Development

Economic Globalization And The Effects On Country Development

Economic globalisation's effects on a country's development are a matter of debate. Some argue that the movement of capital and goods around the world will create jobs and help improve the economic situation of countries, while others feel that it will only result in more poverty. Either way, there is little doubt that the world economy is becoming increasingly globalised. This has had a significant effect on the development of the countries in the world. Positive Effects Globalisation has helped bring more people out of poverty and enhanced citizens' living standards worldwide. But it also has some downsides. Some critics argue that globalisation has caused the exploitation of workers in developing countries. Others point out that the global market gives companies complete access to consumers, thus offering them a wider variety of goods. In some cases, these products may be harmful to the environment. The World Bank estimates that in 2010, 1.1 billion people in extreme pov...