Globalisation Has Benefited Developing Countries More Than

Globalisation has benefited developing countries more than

Choose one of the following prompts to explore in your research essay, which should be approximately 1000 words (+/- 10%), excluding references. You are expected to conduct thorough research using the suggested resources and additional credible sources of your own. Make sure your essay critically evaluates the chosen question, providing concrete examples and scholarly analysis.

Option 1: Evaluate whether globalisation has benefited developing countries more than developed countries, using specific examples from one developed and one developing country. (Study Area 1)

Option 2: Analyze the strengths and weaknesses of the United Nations (UN) specifically regarding climate change, peace and security, or humanitarian aid. (Study Area 2)

Option 3: Discuss how globalisation has influenced global income distribution, employing two specific examples to illustrate your arguments. (Study Area 3)

Option 4: Examine the threats posed by Neoliberalism in the global context, focusing on environmental degradation or labor exploitation, with detailed discussion supported by case examples. (Study Area 3)

Paper For Above instruction

Introduction

Globalisation, an intricate phenomenon driven by advances in technology, trade liberalization, and economic integration, continues to reshape global socio-economic landscapes. While it has facilitated economic growth and technological transfer, debates persist about its uneven benefits and associated risks. This essay critically evaluates whether globalisation has predominantly benefited developing countries over developed nations by examining specific case examples. It also discusses the multifaceted nature of globalisation’s impacts, emphasizing that benefits are not universally experienced and are often accompanied by significant challenges.

Economic Benefits and Opportunities for Developing Countries

Developing countries have often been heralded as the primary beneficiaries of globalisation due to exposure to global markets, foreign direct investment (FDI), and technological transfer. For instance, Vietnam's integration into the global economy exemplifies how developing nations can leverage globalisation to propel rapid economic growth. According to the World Bank (2013), Vietnam experienced substantial poverty reduction and industrial expansion post-Integration with international trade systems, driven by manufacturing and exports (The World Bank, 2013). Such growth has fostered employment, improved infrastructure, and boosted living standards.

Similarly, in Sub-Saharan Africa, adoption of mobile banking through global telecommunications networks has increased financial inclusion, opening new avenues for commerce and entrepreneurship. Foster (2019) highlights how digital economies in developing countries shape global economic discourse, providing emerging markets with platforms for integration (Foster, 2019). These examples demonstrate the capacity of globalisation to catalyze development trajectories in historically underdeveloped regions, positioning them for future economic independence.

Challenges and Limitations for Developing Countries

However, the benefits accrued are often uneven and accompanied by significant pitfalls. Critics argue that globalisation perpetuates inequality within developing nations, favoring multinational corporations and global elites at the expense of local communities. Pologeorgis (2019) notes that despite increased FDI, many developing countries grapple with economic dependency, limited technology transfer, and environmental degradation (Pologeorgis, 2019). For example, in Nigeria, oil extraction has generated immense revenues but failed to translate into widespread improvements in health, education, or economic stability, illustrating the 'resource curse' effect.

The inequality gap widens as globalisation favors capital mobility over labor rights, often exposing vulnerable populations to exploitative working conditions. Morgan (2018) emphasizes that liberalization reforms have ignored the human aspect, leading to social discontent and marginalization, undermining long-term sustainable development (Morgan, 2018).

Benefits to Developed Countries and the Role of Global Institutions

Conversely, developed countries have largely maintained their economic dominance through globalisation, leveraging competitive advantages in technology, capital, and market influence. Abeyratne (2019) points out that developed nations often benefit from increased access to cheap manufactured goods from developing countries while protecting their own industries through tariffs and subsidies (Abeyratne, 2019). Furthermore, developed countries shape global economic policies through institutions like the International Monetary Fund (IMF) and World Trade Organization (WTO), which often set rules favorable to their interests.

Nevertheless, this dynamic also fosters global instability, as seen during the 2008 financial crisis, which originated in the United States and had ripple effects worldwide. Such examples underscore the interconnectedness fostered by globalization while highlighting disparities and vulnerabilities in the global economic system.

Conclusion

In conclusion, while globalisation has presented significant opportunities for developing countries through increased access to markets, technology, and capital, the overall benefits are complex and unevenly distributed. The evidence suggests that developing economies can harness globalisation for growth, yet they must also grapple with increased inequality, resource exploitation, and environmental challenges. Therefore, claiming that globalisation benefits developing countries more than developed nations oversimplifies a multifaceted reality. A balanced approach that ensures equitable benefits and mitigates adverse effects is essential for fostering sustainable and inclusive global development.

References

• Abeyratne, S. (2019). Globalisation: Winners and losers. The Sunday Times Sri Lanka. Retrieved from: 336041.html
• Foster, C. (2019). Trade wars are growing over the digital economy – and developing countries are shaping the agenda. The Conversation. Retrieved from: growing-over-the-digital-economy-and-developing-countries-are-shaping-the-agenda-113000
• Morgan, E. (2018). Inequalities in globalisation and liberalisation ignoring the appeals of developing countries. Jamaica Observer. Retrieved from: in-globalisation-and-liberalisation-ignoring-the-appeals-of-developing- countries_150243?profile=1096
• Pologeorgis, N. (2019). How Globalisation affects developed countries. Investopedia. Retrieved from: The World Bank (2013). The Winners and Losers of Globalization: Finding a path to shared prosperity. The World Bank. Retrieved from: Finding-a-Path-to-Shared-Prosperity