Question

The 20th century was characterized by increasing globalization describe some of globalization major effects then identify whether the effects of globalization were better for developed countries or developing countries

Answer 1

Globalization is a political process in which the most powerful nations make economic and financial decisions that affect the rest of the world. These decisions have impacted developing economies, producing negative and positive effects. Among the positive effects are the drive towards a new technology and sustainable development. The negative effects are based on the fact that globalization is a selective and unequal process. For this reason, developed countries benefit more from globalization because they protect their markets in products or sectors that they consider strategic for their economy, while low-developed countries are obliged through measures and sanctions to release all those sectors that are fundamental. for your economies. In this way the competition is not loyal, while the developing countries have to throw themselves into the arena of international trade without weapons, with their production unprotected; the industrialized countries have enormous barriers to protect their products.