The effect of globalization on employment in developing countries

TABLE OF CONTENTS TABLE OF CONTENTS i INTRODUCTION 1 BODY PARAGRAPH 2 I About globalization 2 1 1 Definition of globalization 2 1 2 Importance of Globalization in developing countries 2 II Employment. TABLE OF CONTENTS TABLE OF CONTENTS i INTRODUCTION 1 BODY PARAGRAPH 2 I. About globalization 2 1.1. Definition of globalization 2 1.2. Importance of Globalization in developing countries 2 II. Employment effects of globalization in developing countries 2 2.1.Opportunities for developing countries 2 2.2. Major challenges for developing countries 3 CONCLUSION 5 REFERENCE 6   THE EFFECT OF GLOBALIZATION ON EMPLOYMENT IN DEVELOPING COUNTRIES INTRODUCTION The world is moving from confrontation to peace, cooperation and development. Internationalization and globalization are becoming inevitable trends of the times. However, we also realize its downside when a world consisting of various nationalities, with the complexity and diversity of economies, politics, cultures, and societies, participates in this process. The globalization process has brought many opportunities for economic growth and social developments in developing countries, which is the factor to restructure and modernize. The factors of globalization impact job enlargement, improve the quality of human resources, develop the labor market, and increase workers income in many areas and industries. However, globalization also poses challenges to labor, employment and human resource development.   BODY PARAGRAPH I. About globalization 1.1. Definition of globalization According to WHO, globalization can be defined as ” the increased interconnectedness and interdependence of peoples and countries. It is generally understood to include two interrelated elements: the opening of international borders to increasingly fast flows of goods, services, finance, people and ideas; and the changes in institutions and policies at national and international levels that facilitate or promote such flows. 1.2. Importance of Globalization in developing countries Globalization helps developing countries to deal with rest of the world increase their economic growth, solving the poverty problems in their country. In the past, developing countries were not able to tap on the world economy due to trade barriers. They cannot share the same economic growth that developed countries had. However, with globalization the World Bank and International Management encourage developing countries to go through market reforms and radical changes through large loans. Many developing nations began to take steps to open their markets by removing tariffs and free up their economies. The developed countries were able to invest in the developing nations, creating job opportunities for the poor people. II. Employment effects of globalization in developing countries 2.1.Opportunities for developing countries Globalization is opening up unprecedented opportunities for countries around the world. Thanks to advanced technologies and telecommunications, transaction costs are significantly reduced. The distance in space and time between countries is reduced, and the speed and conditions of accessing to new knowledge are improved. Globalization is beneficial for promoting economic factors such as money, technology, knowledge, rationally allocate resources, expand trade activities, improve economic efficiency, tighten economic and technical linkages between countries and regions. The world market has become a massive source of technology and capital that all countries have the opportunity to exploit. Human knowledge and global information are widely disseminated and accessible to everyone.

TABLE OF CONTENTS TABLE OF CONTENTS .i INTRODUCTION BODY PARAGRAPH I About globalization 1.1 Definition of globalization 1.2 Importance of Globalization in developing countries .2 II Employment effects of globalization in developing countries 2.1.Opportunities for developing countries 2.2 Major challenges for developing countries .3 CONCLUSION REFERENCE i THE EFFECT OF GLOBALIZATION ON EMPLOYMENT IN DEVELOPING COUNTRIES INTRODUCTION The world is moving from confrontation to peace, cooperation and development Internationalization and globalization are becoming inevitable trends of the times However, we also realize its downside when a world consisting of various nationalities, with the complexity and diversity of economies, politics, cultures, and societies, participates in this process The globalization process has brought many opportunities for economic growth and social developments in developing countries, which is the factor to restructure and modernize The factors of globalization impact job enlargement, improve the quality of human resources, develop the labor market, and increase workers' income in many areas and industries However, globalization also poses challenges to labor, employment and human resource development BODY PARAGRAPH I 1.1 About globalization Definition of globalization According to WHO, globalization can be defined as ” the increased interconnectedness and interdependence of peoples and countries It is generally understood to include two inter-related elements: the opening of international borders to increasingly fast flows of goods, services, finance, people and ideas; and the changes in institutions and policies at national and international levels that facilitate or promote such flows 1.2 Importance of Globalization in developing countries Globalization helps developing countries to deal with rest of the world increase their economic growth, solving the poverty problems in their country In the past, developing countries were not able to tap on the world economy due to trade barriers They cannot share the same economic growth that developed countries had However, with globalization the World Bank and International Management encourage developing countries to go through market reforms and radical changes through large loans Many developing nations began to take steps to open their markets by removing tariffs and free up their economies The developed countries were able to invest in the developing nations, creating job opportunities for the poor people II Employment effects of globalization in developing countries 2.1.Opportunities for developing countries Globalization is opening up unprecedented opportunities for countries around the world Thanks to advanced technologies and telecommunications, transaction costs are significantly reduced The distance in space and time between countries is reduced, and the speed and conditions of accessing to new knowledge are improved Globalization is beneficial for promoting economic factors such as money, technology, knowledge, rationally allocate resources, expand trade activities, improve economic efficiency, tighten economic and technical linkages between countries and regions The world market has become a massive source of technology and capital that all countries have the opportunity to exploit Human knowledge and global information are widely disseminated and accessible to everyone For developing countries, globalization creates opportunities to attract foreign investment capital and acquire new technologies to promote economic development Globalization promotes trade development and creates conditions for developing countries to participate more deeply in the international division of labor to promote the economy's competitive advantage better Thus, with the right conditions, globalization can contribute to economic growth, poverty alleviation and open up the path of sustainable long-term development to keep pace with developed countries II.2 Major challenges for developing countries Economic globalization brings up many career and employment opportunities However, it always goes with faster technical innovation, more flexible capital circulation, deeper human competition, and greater risk for the national economy The biggest challenges for developing countries now and in the future are how to overcome the weaknesses of the economy and the lagging behind of human resources such as: + Economy's competitiveness of goods and services is much lower than that of other countries in the region and the world in terms of quality, price, and design Infrastructure (roads, ports, traffic, communication, electricity and water ) is underdeveloped and has not yet met the requirements of economic development; The technological level of economic sectors is backward (behind other countries in the region by 3-5 generations) The application of information technology in management and businesses is still at a deficient level + The quality of human resources is still inadequate, such as compliance with labor discipline, technology discipline and foreign language ability The physical facilities of developing countries' training and vocational training systems are backward compared to the typical level of many countries in the region and the world CONCLUSION Globalisation can offer many employment benefits to developing countries In the external world these countries face, markets become more accessible, transport costs lower, information easier to get, technology easier to access and capital easier to raise: this promises more exports, faster transfer of technology and greater investment resources In general, therefore, globalisation can, by rationalising activity across national boundaries and integrating countries into a more efficient system where mobile resources exploit the specific advantages of each location, boost activity and supply the ‘missing elements’ to make local factors or enterprises competitive In an era of explosive innovation, it also offers a wealth of new, highly productive technologies whose dissemination can raise living standards in developing countries (in non-traded as well as traded activities) There is clear evidence that several developing countries have enjoyed rapid and sustained output, export and employment growth by participating in globalisation REFERENCE Kotilainen, M & Kaitila, V (3/2002)."Economic Globalization in Developing Countries", The journal of Economic in Developing Countries, pp 70 Thirlwall A P (2003), "Growth & Development with special reference to developing economies", (7th ed) Palgrave Macmillan: New York Will globalization benefits or disadvantages (04/2009) [Online] Available: http://thegptutor.blogspot.com (August25, 2011) The World Bank, Development Program, 2004 [Online] Available: http://www.worldbank.org/unite nations (August 28, 2011) .. .THE EFFECT OF GLOBALIZATION ON EMPLOYMENT IN DEVELOPING COUNTRIES INTRODUCTION The world is moving from confrontation to peace, cooperation and development Internationalization and globalization. .. Importance of Globalization in developing countries Globalization helps developing countries to deal with rest of the world increase their economic growth, solving the poverty problems in their country... compared to the typical level of many countries in the region and the world CONCLUSION Globalisation can offer many employment benefits to developing countries In the external world these countries