Question

Globalization: Consequences for the Developing World .

Have developing countries, on balance, benefited more from globalization than they have been hurt by it? How and why? How can developing countries position themselves to take full advantage of a flat world? Can developing countries opt out of globalization, or is it a force that cannot be avoided? Should countries opt out if they can?

Answer 1

• Globalization has benefited developing countries on the fronts of technology, has given them greater opportunities to access markets of the developed countries, growth, improved productivity and living standards.
• Although, it has brought environmental deteriorations, instability in commercial and financial market.
• In order to position themselves to take full advantage of a flat world developing countries need to assess their strengths and weaknesses so as position themselves to facilitate competition and collaboration.
• They need to focus on infrastructure, education, government as well as on environment.
• Developing countries can't opt out of globalization since it will make them irrelevant by hindering their economic progress. Countries should not opt out of it since it presents tremendous opportunities in every sphere of economy.