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This paper explains that many third world countries have not been able to profit from the effects of globalization because their domestic businesses with only basic operations cannot compete with the operations of successful multinational corporations. Next, the author stresses that, if a third world country is to benefit from globalization, these country must support the further development of its domestic businesses as China did thus resulting in its phenomenal economic growth. The paper examines the problems of economic system imbalance, environmental pollution caused by increase consumerism and loss of political stability, all of which can occur in third world countries that are exposed to the pressures of globalization.
From the Paper:"Proponents of globalization argue that it has facilitated the process of international business and thus has managed to raise standards of living worldwide. However, the gap between the rich and the poor has actually widened. This is because it is only the owners of large corporations who have managed to maximize their wealth as a result of the expansion of international business. Businesses in the west have moved en masse to China and India because of access to large markets and to cheap labor. As a result of this migration, unemployment rates in the West are rising."
Sample of Sources Used:
- Baylis, John, et al. (2006). Globalization of World Politics. Prentice Hall.
- Blanchard, Olivier. (2005). Macroeconomics. McGraw Hill/Irwin. 2005.
- Hill, Charles, and Gareth Jones. (2007). Strategic Management Theory: An Integrated Approach. McGraw Hill/Irwin.
- Hitt, Michael A., et al. (2007). Strategic Management Concepts. Wiley.
- McConnell, Campbell R., and Stanley L Brue. (2007). Macroeconomics. South western college pub.
Cite this Analytical Essay:
Globalization and Third World Countries (2010, December 28) Retrieved September 26, 2020, from https://www.academon.com/analytical-essay/globalization-and-third-world-countries-146461/
"Globalization and Third World Countries" 28 December 2010. Web. 26 September. 2020. <https://www.academon.com/analytical-essay/globalization-and-third-world-countries-146461/>