What are the benefits of globalization to a third world country?

Question

does it provide better education? less impoverished people? better quality of life? what does it contribute to the society? thanks....

Answer 1

Globalisation...has it's good points for the third world...like an increase in education...(if people can afford it)..etc..but it opens these countries to exploitation for their land and natural resources...

Answer 2

Globalization is good for 3rd world countries, because it allows them to compete on a global level instead of a local level. For instance, the farmer in India growing wheat can sell his product on the Chicago Board of Trade to a buyer in Sudan. A win for the Indian farmer and a win for the Sudanese bread maker who then resells the bread to his customers. A win win for everybody.

Without globalization, that Indian farmer would sell his wheat at the local market which is oversupplied because every other Indian is doing the same thing. He'd get pennies on the dollar, remain poor, and children in Sudan would go hungry because they can't grow wheat in the sand.

Globalization has many more Pro's than Cons.

Answer 3

Globalization just means we trade more freely with other countries. Trade benefits both parties because it allows them to focus on producing what they're good at producing.

For example, it would be pretty difficult and expensive to produce bananas in Canada and Ecuador is too small a country to have a efficient car factory.  So, they trade cars for bananas. Everyone is better off.

I don't see how trade would improve education.  Maybe it would increase the benefits of education but people with little education have always stood to gain from better education.

As far as poverty and quality of life, it helps because production is more efficient.