Economic Development Assignment Help

Economic Development Assignment Help

Economic Development Assignment Help

Essay

Globalisation refers to the stage at which the integration of the economic, political and the social conditions of the countries takes place. Globalisation is playing an important role in increasing the development of the country. According to Irani and Noruzi (2011), globalisation offers various opportunities to the countries in getting the development and up gradation. The important aspect of the globalisation is technology which is like a gift to the world. The technology has provided various opportunities to the countries to get the up gradation (Irani and Noruzi, 2011). Globalisation provides the advantages as well as some disadvantages to the developing countries which are covered hereunder.

Economic Development Assignment Help

Globalisation has various benefits to the developing countries. Developing countries includes the countries which are on the stage of the development and the countries which require the up gradation. Globalisation has various impacts on the developing countries (Wenjing, et. al., 2012). The economic development, as well as the political development of the country, is the major change which globalisation brings. This impacts the country from the economic point of view as the country gets the economic benefits, the company gets various job opportunities for the unemployed people with the help of globalisation (Wenjing, et. al., 2012). Globalisation brings up different multinational companies which provide job opportunities to the well deserving unemployed candidates. This increases the income level of the country and provides them with economic benefits. The globalisation is the major creator of the jobs in developing countries and also results in huge capital formation. The improvement in the employment sector increases the spending level of the country. As a result, people get to purchase various products which were not affordable by them earlier. This improves the business in the developing countries and boosts development (Wenjing, et. al., 2012).

Not only economic benefit is provided by globalisation but the country gets the enrichment in the culture of countries. The culture benefit is when the countries get the enrichment and development of their culture. Due to globalisation, the countries get an opportunity to learn and enrich their culture with the other culture of other countries. This enhances education and knowledge about different countries in the world. The cultural benefit is provided by globalisation and increases the awareness in the world (Hamdi, 2013). This is the interconnection between different countries of the world.

The health sector of the countries are also getting the benefits of globalisation as various health benefit medications and the treatments from the different parts of the world are now possible for the developing countries to avail. Different treatment which was not available in the developing countries earlier is now provided (Hamdi, 2013). The education and knowledge sector have also improved and due to this different countries are getting the benefit of the development and improvement.

Interconnection is not only provided due to the cultural development of the countries. The globalisation has gifted much more than the economic and cultural development. It has provided the development of technology. Technology has provided a great improvement in the developing countries as the new and upgraded technology makes it easy for the humans to get connected with different parts of the world in very less time (Akram, et. al., 2011). Globalisation has shortened the distances between different places and this has increased the overall development in different countries. Globalisation has offered various technologies from which people are connected. Sitting at different corners of the world, people are connected to each other. The usage of technology has become very easy for the countries which are in the developing stage. Developing countries are the biggest beneficiaries of globalisation. Globalisation has also increased the electronic networking (Akram, et. al., 2011). With the help of globalisation, people can make contact with people living in the different parts of the world in just no time. Globalisation provides social networking which helps the users in using the different social networking sites and the working websites to increases the contacts within the world. The technological impact of the globalisation has enhanced the use of Facebook, Twitter, Email, and YouTube. This provides the country to be in touch with the different people around the world in just a click. The world has changed a lot with the globalisation (Akram, et. al., 2011).

The globalisation has not only impacted the world and the developing countries in the positive aspects but the negative aspects of the globalisation have also impacted the world of developing countries drastically. The globalisation has increased the criminal activities which are the part of the challenges which the developing countries face. Due to the globalisation, the increased use of the technology has been considered as positive as well as negative (Bandyopadhyay, et. al., 2011). The negative use of technology in some parts of the world has increased the terrorism activities in the world. This is all because of the globalisation and the world full of unwanted situations. Technology is used for developing many explosive and hazardous explosions to destroy the world by the terrorism (Bandyopadhyay, et. al., 2011).

The developing countries, with the impact of the globalisation, are also getting the increased competition (Freytag, et. al., 2011). From the aspect of business or various other aspects of the countries, the globalisation has provided tough competition. This gives the companies an opportunity as well as the situation in which the companies has to increase the unique selling price and brand image by increasing the company quality in the product and the services to beat the competition (Freytag, et. al., 2011).

In the further discussion with Irani and Noruzi, (2011), the major impact of the globalisation on the developing countries are Economic and Trade Processes Field, the education and health systems and the culture systems are also getting impacted. The globalisation also provides the countries with the enhanced culture. The new and different cultures are enriched by the countries. The developing countries demand globalisation as they are provided with the huge opportunities to grow and prosper in the world (Irani and Noruzi, 2011). Globalisation is both a boon and bane for the countries in many aspects like economic, social, cultural or ethnical. But ultimately Globalisation is the sole reason why different economies get interconnected and are growing along with each other.

References

Akram Ch. M., Faheem, M. A., Dost M. K. B., Abdullah, I., 2011, “Globalization and its Impacts on the World Economic Development”, International Journal of Business and Social Science, Vol. 2 No. 23.

Bandyopadhyay, S., Sandler, T.M. and Younas, J., 2011, “Foreign direct investment, aid, and terrorism: an analysis of developing countries”.

Freytag, A., Krüger, J.J., Meierrieks, D., and Schneider, F., 2011, “The origins of terrorism: Cross-country estimates of socio-economic determinants of terrorism”, European Journal of Political Economy, 27, pp.S5-S16.

Hamdi, F. M., 2013, “The Impact of Globalization in the Developing Countries”, Developing Country Studies, ISSN 2224-607X, ISSN 2225-0565, Vol.3, No.11, 2013. 

Irani, F. N. H. A., and Noruzi, M., R., 2011, “Globalization and Challenges; What are the globalization's contemporary issues?” International Journal of Humanities and Social Science, Vol. 1 No. 6.
Wenjing, W., Rongcheng, W., Ayenagbo, K., Nguhz, S., Kimatu, J. N., Patrick, J. M., 2012, “The impact of globalization on African countries economic development”, African Journal of Business Management, Vol.6 (44), pp. 11057-11076.