Did globalization reduce or increase the disparities between developed and developing countries?

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Sherman

7 May, 05:14

Did globalization reduce or increase the disparities between developed and developing countries?

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Samson Maynard · Answer 1

Globalization increase the disparities between developed and developing countries.

Explanation:

Globalization brings together businesses and people through the foreign exchange of capital, knowledge, and culture. many developing countries lagged behind when the economies of developing countries were freed and trade barriers have been removed. This trend has risked the jobs of domestic markets and workers. Travelers in the globalizing world promote the transmission of new diseases, for example, the latest outbreak of Coronavirus disease. Relocation of physicians, scientists to developed nations, reduces expertise in developing ones. It also poses a threat to the cultural and unique identity of a nation.