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A summary of Negative Effects of globalization on developing countries In other words, these countries are part of the global culture, where the world is speaking the same language, embracing the same fashion, following social media trends and keeping pace with the dynamic world of technology. Today, third world countries are connected to the rest of the world through Satellite and cable. Globalization also promotes technological growth in developing countries. Manufacturers in the third world are seizing this opportunity by exploiting new technologies and producing new products to meet a global demand for their goods and services. This promotes economic growth as homegrown countries see barriers fall and expand their market reach. With lessened borders, developing countries experience freer trade between countries. In addition, globalization has opened up new markets all over the world.
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However, in case this money does not serve the right people, it may breed corruption and entrenched poverty in developing countries. When they channel these funds to improving transport infrastructure, healthcare systems, irrigation, education and other social services, the standards of living go high. In particular, with globalization, governments of developing countries have access to foreign lending. The first effect is improved standards of living for millions in the third world. This approach is essential because what America considers the value of globalization could be harmful to Asia or Africa.
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In discussing effects of globalization on developing countries, it is important to focus on economic and social integration is helping or harming communities around the world. PROS AND CONS: Effects of globalization on developing countries It is leading to unemployment, widening income inequalities and cultural imperialism among other negative factors. However, besides these, globalization is too sided. For example, international trade remains a booster for most of these economies, as they are markets for developed nations and get chance to export their products to the global market. Today, third world countries enjoy endless opportunities because of globalization. In particular, globalization is shaping politics, promoting technological development, enhancing economic processes and improvement of social, health and the natural environment. Importantly, globalization is playing a pivotal role in the Third World. While this trend affects everyone on the planet, the effects of globalization on developing countries are far-reaching. In the second half of the 20 th century, it was apparent that national borders were an obstacle towards economic development, forcing countries to embark on weakening the barriers through international integration of their economies. Borders between countries continue to break down to allow strong interconnection and interdependence of economies. Because of globalization, the world is a global village where sharing of information is instant regardless of where you are. Globalization refers to a process of economic, social, and political integration. Effects of Globalization on Developing Countries