CCGL SELF PORTFOLIO 2.docx - CCGL SELF PORTFOLIO 2 Tahir Maria 3035468768 Word count 593(excluding citations Development of technology and integration

CCGL SELF PORTFOLIO 2.docx - CCGL SELF PORTFOLIO 2 Tahir...

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CCGL SELF PORTFOLIO 2 Tahir, Maria 3035468768 Word count: 593 (excluding citations) Development of technology and integration of economies has made globalization an inevitable phenomenon. Every little thing we encounter in our daily lives from our phones to the food we eat involves globalization. Therefore, it becomes vital to discuss whether globalization is beneficial or detrimental to our society. Globalization has aided the development of economy tremendously, especially in poor countries. Under globalization, organizations such as World Bank and the IMF have encouraged market transformation of developing countries by lending them huge sum of loans (Griffin, 2003). This has allowed them to open up their market. As a result, the developed countries can invest in these countries and allow developing countries to earn foreign direct investment (FDI) and boost their economies by providing them with job opportunities (Hirst & Thompson, 1994). Unfortunately, it comes along with severe inequality. Multinational corporations outsource production to developing countries because they can acquire inexpensive labour. They provide low wages and poor working environment for workers. The developing countries
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  • Fall '16
  • HENRY

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