GlobalizationIn this essay I will look at how globalization has affected the influence of business on industries in developing countries and what impact it has on our environment . I will start by briefly reintroducing what globalization is and what changes it brings. Then I will move on to answer the first part of the question by referring to some resources and examples. During this discussion I will also explain my opinion on the matter. The second part of the question will be answered in the same way as the first. After the main part of my argument, I will summarize and conclude. Globalization is the process by which the world is becoming increasingly interconnected as a result of a massive increase in trade and cultural exchange. Globalization brings many benefits such as freer movement of capital, goods and services; Larger companies are now able to operate in more than one country and because of this there are more jobs in the least economically developed countries (LEDCs). Of course there are some disadvantages, such as intense competition and a growing gap between rich and poor countries. First, I will examine whether globalization has actually strengthened and benefited industries in developing countries. One of the biggest benefits of globalization for LEDCs is that trade barriers are significantly lowered or removed completely. This promotes and encourages exports to new countries because before LEDCs simply couldn't afford to export their goods to major countries like the US or UK due to the high import taxes they imposed, so it simply wasn't worth it the penalty. But with free access to new markets, LEDCs have access to a much larger customer base and this should, in theory, significantly stimulate economic growth. Empiri......middle of paper......the idea doesn't work properly. From the evidence and statistics it appears that globalization has done more harm than good to developing nations. This may be because larger countries can manipulate the IMF, World Bank and WTO to their advantage without breaking any rules. To me, globalization simply seems like a peaceful way for rich countries to steal from and exploit poor countries. I agree that in some developing countries globalization has been beneficial and has stimulated their economic growth, but there are not many examples of this. I would say that these countries are an exception because according to World Bank statistics, most LEDC countries with strong import liberalization have experienced anemic or negative growth over the last 20 years. So, all in all, I believe globalization is a great idea and a great concept, but it is not suitable for today's world.