In this essay I will explain what globalization is, what economists say about it and whether it should be encouraged in developing countries or not. .
Globalization is a widely defined term. Globalization can be generally defined as a process of growing interdependence between all people of this planet. People are linked together economically and socially by trade, investments and governance. These links are spurred by market liberalization and information, communication and transportation technologies.
Globalization involves change, so it is often feared, even by those who end up gaining from it. And some do lose in the short run when things change. But globalization is like breathing: It is a not a process one can or should try to stop.
Many economists view economic globalization as having a positive impact, linking increased economic transactions across national borders to increased world GDP, and opportunities for economic development. But still some critics claim that many of the economies of the industrial North (i.e., North America, Europe, East Asia) have benefited from globalization, while in the past two decades many semi- and non-industrial countries of the geo-political South (i.e., Africa, parts of Asia, and Central and South America) have faced economic downturns rather than the growth promised by economic integration.
Globalization should be encouraged for developing countries too. The uneven distribution of resources makes all countries depend on each other. Thus 3rd world countries too could get a lot of benefits by being actively involved in the globalization process. But this process should be done in a way as not to marginalize the poorer countries when it comes to trade agreements, where most of the powerful countries have a better advantage. .
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Overall, Americans tend to see globalization as somewhat more positive than negative and appear to be growing more familiar with the concept and more positive about it.
