According to Ali 2000), the effects of globalization affect the developed and the developing countries and across industries differently. Developing nations benefit greatly from the global economy because they stand a chance to develop their economy, which results not only in economic development but also in other forms of development like social and political arenas.
On that same note, developed nations also benefit greatly from fewer and in many cases no trade restrictions presenting them with the opportunity to invest in various countries goods and services. Additionally it is important to point out that scholars have concluded that every positive impact is always coupled with a negative impact. However, there is interdependence in globalization that drives many countries economy. However, it is imperative to note that globalization has more positive impacts than negative impacts in the long run.
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