Essay on Positive And Negative Effects Of Globalization On Vietnam

728 Words Sep 2nd, 2015 3 Pages
Evaluate the positive and negative of globalization on Vietnam
Today, there are increasing international brands set their factories in Vietnam such as Columbia Sportswear, L.L.Bean and Nike(Dang,2011). It is not a secret that globalization is increasing substantially and creating new opportunities for Vietnam. Globalization can make greater economic, culture, political and technological interdependence(Wild&Han, 2006). However, globalization did not only take benefits to Vietnam. Globalization made negative and positive impacts respectively on Vietnam in economy, culture and environment.

Globalization, particularly economic globalization, improved the living standards of Vietnam but caused inflation. Vietnam was a backward agricultural country which the level of the economy was low that people could not get food and clothing before globalization(VOV,2006). Local companies in Vietnam increased the volume of business by cooperating with overseas corporations. The demand on labor from companies and factories was increased as increasing businesses. World Bank showed, ‘The GDP growth rate jumped to 11.1 percent from 1994 to 2000(World Bank, 2004:13).’ With the increased GDP, the Vietnamese improved their living standard. However, there are negative effects of globalization on Vietnam. Inflation is a serious problem on Vietnam because of globalization. When the income of people increased, the selling price made an improvement at the same time. As the price of the goods…

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