Wednesday, October 15, 2014

Globalization is an obstacle to development?

Globalization is an obstacle to development?
A matter of opinion really.As a rule, no. Globalisation is the speed and movement of goods and services, ideas or information across national boundaries.This gives way to free trade, and the opportunity for countries to use their competitive advantage in a area, as a way of gaining more of what they are competitively disadvantaged in.This can increase GDP, and inflation rates. But unemployment can go both ways: increase because of job creation in the countries strong industries, or decrease due to increase of cheap goods into a country where the particular industry cannot compete.

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