The purpose of this research is to figure out if indeed globalization is making any impact on the developing countries. In recent times, there has been much talk about globalization as to whether it is having any direct ramification on the livelihood of people in the developing world. There have been varied views on globalization. This research is to explore if developing countries are benefiting from the labor market as the result of globalization. To better help we understand what globalization means, we have to imagine how life was in twenty years ago where there were no cell phone and internet, meaning limited access to communication.
Many people have divergent meaning to what globalization is all about. Globalization can literally means …show more content…
Culture can be defined literally as meaning, a way of life that some live that distinguish one group of people from the other, be it their language, food, dressing, customs, traditions and beliefs. Tourism, trade and the media have changed the culture of indigenous people in developing countries through globalization. The world has become interconnected, making movement from country to another by means of improved transportation and technology. The use of English language in communication makes it easier for nations to understand each other but it also made other languages disappeared. As people lose their language so as their customs and traditions also …show more content…
It has change the relative reward in the sense that traditional theory of international trade to bear more plentiful. Lower income less skilled labor competing that can drive wage down. Globalization increases the reward to certain superstars at the very top. Globalization has also created an unequal access to “tool”, that is technology. We live in a world where those in advanced or developed countries have to compete with people from the developing countries for the same job or work. Tools like technology is lacking in most developing countries and in place where they have accessibility is also a problem. This has created a situation where there is inequalities in terms of resources. Hedge fund manager or an investment banker operating on
Many people have divergent meaning to what globalization is all about. Globalization can literally means …show more content…
Culture can be defined literally as meaning, a way of life that some live that distinguish one group of people from the other, be it their language, food, dressing, customs, traditions and beliefs. Tourism, trade and the media have changed the culture of indigenous people in developing countries through globalization. The world has become interconnected, making movement from country to another by means of improved transportation and technology. The use of English language in communication makes it easier for nations to understand each other but it also made other languages disappeared. As people lose their language so as their customs and traditions also …show more content…
It has change the relative reward in the sense that traditional theory of international trade to bear more plentiful. Lower income less skilled labor competing that can drive wage down. Globalization increases the reward to certain superstars at the very top. Globalization has also created an unequal access to “tool”, that is technology. We live in a world where those in advanced or developed countries have to compete with people from the developing countries for the same job or work. Tools like technology is lacking in most developing countries and in place where they have accessibility is also a problem. This has created a situation where there is inequalities in terms of resources. Hedge fund manager or an investment banker operating on