Globalization:

An Opportunity for The Developing Countries

Every single action that a human being undertakes requires a tread - off. The same phenomenon is true also for the different processes such as globalization which is the increasing world - wide integration of markets for goods, services, and capital. Globalization leads to the integration of economical, cultural, and political social systems across geographical boundaries and it has been regarded as beneficial providing the key to world economic development. Nevertheless, it can be also destructive decreasing equality between and within nations by threatening employment and living standards.

Deciding whether globalization is more advantageous than disadvantageous requires a prolonged analysis of the trade, the capital movement, the movement of the people, and the spread of knowledge and technology. The gaps between rich and poor countries and between rich and poor people within a country have grown, but the global average per capita income has risen strongly leading to a considerable progress of the developing countries because of the medical advances and improved living standards.

Originating in a small European country, Bulgaria, where people used to struggle through their entire life just to satisfy the need for their necessities, I acknowledge the advantage that globalization conveyed in my country. It brought international capital flows, technological innovations, and lower priced import goods. Bulgaria's GDP has risen by an average of 5.1 % in the last few years considering the fact that Global GDP imcreases by 3.8%. Moreover, Bulgaria is on its way to be accepted as a member of the European Union, an intergovernmental and supranational union, having the chance to benefit from its free trade, foreign investments and incomes and profits, a more diverse European labor market, and exploitation of economies of scale from supplying to a larger market. " The economy has turned 180 degrees from the midst of despair during the mid 1990's with a large economic restructuring and reforms administrated" states BankIntroductions.com. It is also mentioned that thanks to the country's increasing popularity, the tourism in the country is valued at $1 billion dollars per year.

Another positives aspects of the globalization are the rapid growth and the poverty reduction in China and India, and other countries that were poor 20 years ago.

The negative aspects of cultural assimilation via cultural imperialism are not as significant and detrimental as the positive outcomes such as economic growth, improved living standards, and increased employment opportunities that will be experienced in every country which goes through the process of globalization.