Globalization and Opening Markets in Developing Countries

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Globalization has been noticed by a rush in capital flows between industrial and developing countries. In fact, it has acted as a boon to most of the countries worldwide. Globalization and opening markets in developing counties have refurbished the global economy. Financial globalization has enhanced capital flow and labor mobilization between counties which leads to increase in employment opportunities, and level of income. In addition, it also shows increase in industrial growth which boosts up the gross domestic products. Globalization has also opened up the door of open trade which means that companies can sell their products regardless of political boundary. Consumers can choose their preferred product from any country. Employing the skilled workforce, developing countries can boost up their economy and develop the living condition of its citizens and grow the country better.

Fact of Globalization and Opening Markets in Developing Countries

Since globalization makes it easier for the countries to sell goods and provide services without any hassle, it has increased the competition among the companies. Globalization and opening markets in the developing countries have compelled the industries to offer the best quality product in affordable prices which is highly beneficial for the global consumers. Not just that, by using the natural resources efficiently and implementing latest technology, all the countries can easily strengthen their economy, earlier which was almost impossible.

Features of the globalization and opening markets in developing countries

There are various features of globalization and opening markets in developing countries. First and foremost it has scientific and technological aspects which is comprised of the internet, computer based components as well as bio-engineered food, and the Global Positioning System. The second thing is governance where the role of the domestic and international legal system and regulating the economy and global corporations is included. Another important feature is population. Developing countries experience an increase in population, while the developed countries see the decline of population.

Effect of Globalization and opening markets in developing countries

Globalization and opening markets in developing counties have an array of effects. Open trade allows free moving of goods and skilled labor, while it also enhances the systems of communication among countries. This is regardless of their physical location for boosting up the flow of information. As the market becomes wide, it leads the industries to increase their production which causes more jobs for the people. Technology has taken the center stage and for better communication, satellite, internet and high-end gadgets are being used. As far as negative aspects are concerned, it has increased environmental and security threat for the countries. Migration of unskilled labor without any legal documents is also a major problem.

Globalization and Opening Markets in Developing Countries and Global Economy

Globalization and Opening markets in developing countries have a massive impact on global economy. Firstly, Capital controls have been trimmed down and in most of the cases it has crashed. All the countries can take benefits of free trade zones without spending extra. An exchange of culture also takes place and the world has become a global village with the concept of multiculturalism. Increase in the global tourism and travel has been noticed. Globalization and opening markets in developing countries also have initiated the global justice centers and global justice legal system. Another most important thing is that, the international trade agreement has made it easier for the national as well as transnational companies to gain finance form the foreign countries.

Apart from business and culture, the field of sports also has been significantly influenced by globalization and opening markets in developing countries. The number of world wide events such as, the Olympic games, French open tennis tournament, the FIFA world cup soccer tournament, Wimbledon tennis tournament, U.S. open tennis tournaments, ICC cricket world cup tournament, Australian open tennis tournaments, Formula 1 racing, and more are being organized all through the year.