PRACTICE 14: MY FIRST ESSAY

We live in a society where everything has to be available for everyone as soon as possible, and globalization is our best weapon. It has paved the way for global development, but progress is not "equal" as some countries integrate into the global economy more quickly than others, as seen by their rapid economic growth and lower poverty rates. 

This implies that globalization does not benefit all members of the world community equally. It is more beneficial for members of industrialized countries while emerging countries are at a disadvantage. However, when it comes to the effects of globalization on developing countries, you can see both sides of the coin, as it has both beneficial and negative consequences.

Globalization has benefited emerging countries in many ways. For example, it was crucial in allowing some countries to gain independence. Rising living standards is another benefit of globalization for developing countries. One of the goals of economic globalization is to eliminate poverty, which is being achieved through greater access to foreign investment from developed countries to poor countries. And spending this money on building the developing country's educational, health, social and transportation infrastructure helps raise people's living standards.

In conclusion, this openness allows the transnational movement of labour, foreign capital, new technology and management from more industrialized countries to developing countries; the inflow of foreign direct investment to developing countries is increasing more and more.