Essay on Globalization: Developing Country

Submitted By felicityod
Words: 1126
Pages: 5

Globalization is the growth and spread of interactive international economic and business around the world. It has made a way for free trade and businesses. Globalization simply means the world is integrated economically, socially, politically, and culturally through the advances of technology, transportation and communication. Although it has help improve communication around the globe, it is causing tremendous disaster for the world. It has allowed many world economics to grow and prosper but the growth and prosperity is not reaching all particularly developing nations. Globalization is contributing to the exploitation of the poor by the rich corporations. Developed nations have ventured to establish foreign operations to take advantage of the low cost labor in the developing nations. One cannot deny the negative effects which have derived from globalization. Many multinational corporations use unfair labor practices in developing nations. Corporations move their factories to developing nations because they are able to take advantage of the weak labor laws. Corporations do so little about the unfair working conditions because they invest in nations where they can pay the lowest possible labor cost. Many of those corporations exploit children and demand long work hours. Since many multinational corporations invest in regions that have little or no labor laws they pay them low wages. The wages the workers in developing nations receive is so low it is not enough to cover their basic necessities. These multinational corporations from developed nations are bullies towards developing nations. They bring their companies into developing countries letting the people think it will bring good paying jobs, improve the standard of living and increase economic growth. Multinational companies are well aware they cannot treat the workers in developed countries the same way they do in less developed nations. Furthermore, globalization has given multinational corporations the opportunity to take advantage developing nations due to their low labor laws. Often multinational corporations have little regard for the dump they drop in countries they are running operations in. They often seek to operate in countries where there are little or non-existent environmental laws, so companies may not have to spend large amounts of money for “environmentally friendly” manufacturing process. They practice the use of harmful and toxic chemicals in developing nations. This practice has the possibility of environmental damage. The globalization between developed and developing nations has brought out inequality. For the fact that developing nations have a shaky government with little or non-existent labor and environmental laws they feel they have to right to take advantage of them. For example many critics argue that Canadian companies of moving to Mexico because of their less strict environmental laws. Not to mention the monocropping brought into developing nations often has too many chemicals for fertilizer, pesticides, insectides, and herbicides The main reason of this inequality in globalization between developed and developing is the wealth. The practices done in developing nations by these multinational corporations can never be done in a developed country Therefore; globalization is a force for environmental devastation, exploitation of the developing world, and suppression of human rights. Moreover, globalization is recognized to improve economic growth of developing nations by providing more jobs and increase economic production. .As developing nations increase their trade relationships and become more involved in the world economy, the strength of their financial and governmental institutions is put to the test. The quality of these institutions will more or less determine whether or not poorer countries will benefit from globalization. If their financial and governmental institutions are weak then there is in no way they will benefit