Developing countries should join globalization. Do you agree?
Globalization, by its literary meaning, is the state of different countries’ joining in the economics activities. The concept of “global village” has long been raised by economists, and it remains to be the most heated issue ever since. For the developed countries, globalization is with no doubt profitable. On the other hand, for the developing countries, hazardous as it is, globalization still can do more good than bad to the local economy in the long run.
Those who are against the act of developing countries joining in the trend of globalization may argue that as underdeveloped countries, they can barely be on the equal footing while cooperating with developed countries and being exploited seems unavoidable. However, they neglect the fact that this kind of cooperation is a win-win deal which benefits both sides. Developing countries do not have to beg for the capital and cutting-edge technology from developed countries, since they have advantages which developed countries are longing for, e.g. land, raw material, cheap labors and far-unsaturated domestic market. Hence, to the satisfaction of one and all, cooperation will be formed on the base of equality and both sides will get what they want. For developing countries, particularly, they will benefit from the trend of globalization. Thus, by no means should they shut themselves up and reject the cooperation.
First, economic globalization for developing countries can attract more investment and capital investment opportunities from foreign countries especially from the developed countries. In 1996, United Nations Conference on Trade and Development published the "World Investment Report 1997," pointed out that in 1996, developing countries received 129 billion U.S. dollars from foreign direct investment. The sum of capital inflows that the 48 least developed countries have received has also increased 56% in 1996.
Economic globalization also has promoted the establishment and development of transnational corporations in developing countries and made them adapt to the world market gradually. Some very rapidly developed multinational companies even transformed from trading activities to the field of high-technology and began to participate in international competition in the world market.
Globalization contributes to developing countries’ economy by transferring advanced technology from developed countries to developing countries. For example, technology played a role from the 1950s through the 1970s in the development of a comprehensive (albeit, not technically progressive) industrial economy and an extensive research and development (R&D) system. By the late 1970s, however, the Chinese were prepared to acknowledge that many problems with their industrial and R&D systems were inhibiting the further development of the nation’s technical capabilities. By the pursuit of modern technology from abroad, China’s economy got a ever fast developing. Thus, technology transfer along with the globalization helps developing countries’ economy.
Under the trend of globalization, countries all around the world get benefits, so do the developing countries. With the funds and technology of the developed countries, developing countries use their manpower and resources to develop their economy and narrow the gap between the developed countries and them. Globalization provides a good chance for all the countries in the world to help others and develop themselves at the same time. Choosing to join the globalization is the choice of many developing countries and it is also the best choice for them to make.
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Developing countries should take steps towards globalisation. Do you agree?
ReplyDelete“Globalisation means governments’ maintaining competitive and open economies, building upon
market-oriented policies. It also means recognising the constructive role global enterprises and
electronic commerce can play in creating new opportunities, and through this stronger economic growth and faster development.”1. For the developed countries, globalization is profitable. Developing countries find globalization may have some negative effects on the local economy however, it is beneficial in the long run.
Those who are against developing countries taking steps towards globalization may argue that as underdeveloped countries, they are barely on the equal footing with developed countries and being exploited seems unavoidable. However, they neglect the fact that this kind of cooperation is a win-win deal which benefits both sides. Developing countries do not have to beg for the capital and cutting-edge technology from developed countries provide the platform for higher growth. In turn, the developing world are a source of raw materials e.g. land, raw material, cheap labors and often a far less unsaturated huge domestic market for new products. Hence, to the satisfaction of one and all, cooperation is formed on the basis of equality and both sides will get what they want. For the developing countries, particularly, they will benefit from such trends of globalization. Thus, by no means should they shut themselves up and reject such cooperation.
Economic globalization in developing countries can attract more investment and capital investment opportunities from foreign countries especially from the developed countries. In 1996, United Nations Conference on Trade and Development published the "World Investment Report 1997". The report pointed out that in 1996, developing countries received 129 billion U.S. dollars from foreign direct investment. The sum of capital inflows that the 48 least developed countries have received has also increased 56% in 1996.2 (Reference?)
Economic globalization has promoted the establishment and development of transnational corporations in developing countries and helped them to adapt to world markets. Some very rapidly developing multinational companies have even transformed from trading activities to the field of high-technology and began to participate in the internationally competitive world market.
Globalization contributes to the developing countries’ economy by transferring advanced technology from developed countries to developing countries. For example, technology played a role from the 1950s through the 1970s in the development of a comprehensive (albeit, not technically progressive) industrial economy and an extensive research and development (R&D) system. By the late 1970s, however, the Chinese were prepared to acknowledge that many problems with their industrial and R&D systems were inhibiting the further development of the nation’s technical capabilities. 3. (reference?) By the pursuit of modern technology from abroad, China’s economy grew even faster. Thus, the transfer of technological knowledge along with globalization helps developing countries progress.
With the trend of globalization, countries all around the world gain benefits, so do developing countries. With the funds and technology of the developed countries, developing countries use their manpower and resources to develop their economy and narrow the gap between the developed countries and themselves. Globalization provides a good chance for all the countries in the world to help others and develop themselves at the same time. Choosing to join the globalization is the choice of many developing countries and it is also the best choice for them to make.
1.http://www.acci.asn.au/text_files/issues_papers/Globalisation/G01.pdf