Globalisation of trade can be said to confer advantages on third world countries on the one hand and increase the gaps between the haves and have-nots on the other.
Globalisation of trade is beneficial to the economicaly backward countries
Do you agree or disagree with this statement?
Due to advancement in technology globalisation has entered in each and every field. Even though it has brought many advantages for third world countries yet there are some disadvantages too that it increase gape between rich and poor countries. I believe that globalisation of trade is considerabely beneficial to third world countries.
One of the benefit under developed countries have from globalisation of trade is that the standard of living of people has become high. people can enjoy variety of international markets in their own country. For instance, i-phone and Mc-donalds has brought people to live in a high standard. Socond thing is that globalisation has brought employment to third world countries. Many of people are employed in underdeveloped countries. At last, improvament in technology can clearly be seen here. It gave advanced machines such as health equipment and many more.
Along with many advantages it has given disadvantage too to poor nations. Along with standard of living cost of living has also become high. the products sold in that nations are taxed more by that nations and then companies fill up by costing it highly. So indirectly all weight goes to the people of that country. Hence, only rich people can afford it not poor. Moreover, Although it gave employment yet the majority of profited amount goes to developed countries. This way the gap between poor countries and rich countries is increasing.
All in all, I express my solidatory with the view that if poor countries and rich countries work hand in hand with not only concentrating on profit then it would be more beneficial for both developed and undeveloped countries.
Globalisation of trade is beneficial to the economicaly backward countries
Do you agree or disagree with this statement?
Due to advancement in technology globalisation has entered in each and every field. Even though it has brought many advantages for third world countries yet there are some disadvantages too that it increase gape between rich and poor countries. I believe that globalisation of trade is considerabely beneficial to third world countries.
One of the benefit under developed countries have from globalisation of trade is that the standard of living of people has become high. people can enjoy variety of international markets in their own country. For instance, i-phone and Mc-donalds has brought people to live in a high standard. Socond thing is that globalisation has brought employment to third world countries. Many of people are employed in underdeveloped countries. At last, improvament in technology can clearly be seen here. It gave advanced machines such as health equipment and many more.
Along with many advantages it has given disadvantage too to poor nations. Along with standard of living cost of living has also become high. the products sold in that nations are taxed more by that nations and then companies fill up by costing it highly. So indirectly all weight goes to the people of that country. Hence, only rich people can afford it not poor. Moreover, Although it gave employment yet the majority of profited amount goes to developed countries. This way the gap between poor countries and rich countries is increasing.
All in all, I express my solidatory with the view that if poor countries and rich countries work hand in hand with not only concentrating on profit then it would be more beneficial for both developed and undeveloped countries.