THE IMPACT OF GLOBALIZATION ON DEVELOPING COUNTRIES
Abstract
Globalization has emerged as one of the most influential forces shaping economic, social, political, and cultural developments across the world. For developing countries, globalization presents both unprecedented opportunities and significant challenges. The integration of national economies into global markets has facilitated increased trade, foreign direct investment, technological transfer, and access to international knowledge networks. At the same time, globalization has intensified economic competition, widened income inequalities, and exposed vulnerable economies to external shocks. This article examines the multidimensional impact of globalization on developing countries by analyzing its effects on economic growth, employment, technological advancement, social transformation, and sustainable development. The study highlights the need for effective governance and policy frameworks that enable developing nations to maximize the benefits of globalization while mitigating its adverse consequences.
Keywords
globalization, developing countries, economic growth, foreign direct investment, technological innovation, international trade, sustainable development.
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