Relationship between
Globalization and Development
Globalization and development are related in
several different ways. International relations scholars refer to globalization
as the catalyst for development around the world. Movement of individuals
across borders leads to cross transfer of labor, knowledge and expertise. This
relationship is referred to as a symbiotic relationship as both parties benefit. Cross-border trade implies that there exist more
opportunities for the sale of goods and services. Globalization has also contributed to the
ease of accessibility of various technologies from different countries.
Utilization of these technologies can speed up the rate of development for a
state.
One of the relationships between globalization and development is the
fact that individuals from diverse nationalities are finding it easier to
travel to other countries in pursuit of careers, livelihood, trade and personal
purposes. As a result, of this individuals can acquire much-needed expertise which
the host nation can use to its benefit and development.
Another relationship
between globalization and development is that globalization has contributed to
increase in trade between countries.
Through globalization, the market for products has increased as
countries can export their products to other countries around the globe or
purchase the goods and commodities they need from other countries.
The relationship that exists between
globalization and development is also seen in the manner through which
globalization has led to the transfer of technology between several states.
Globalization has also made international investment possible. Companies can
open up branches in other countries, in so doing they get to help develop the
host country as they conduct their business.
Through globalization information can also be easily transferred from
one corner of the world to the other. This makes it easy for the sharing of
helpful ideas
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