Question

What is the impact of globalization on the economy of the developing countries?

Answer 1

Answer:

economic impact

social impact

environmental impact

Explanation:

1 ) Economic impact

improve the standard of living

widening gap between rich and poor

increase competition among nations

Globalisation brings reorganasations at the national, international and sub national level

specifically it brings the reorganization of production , international trade and the integration of financial markets.

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Answer 2

Answer:

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While globalization has radically increased incomes and economic growth in developing countries and lowered consumer prices in developed countries, it also changes the power balance between developing and developed countries and affects the culture of each affected country.