"Globalisation is not always beneficial to developing countries". Do you agree? Give reasons in support of your answer.

Various benefits of globalization are mentioned below: Increase in competitive strength of domestic industry Access to advanced technology Access to foreign investment Reduction in cost of production Growth and expansion in participating countries Higher volume of trade Consumer welfare Benefits like help in professionalization of management, promotion of mutual cooperation, paving way for world peace. The support for globalization is the lowest in the USA and even in certain other developed countries including Britain, France and German. People are generally wary of immigration that accompanies the opening up of the economy. These countries feel threatened as it could endanger their culture and environment. The dynamics of globalization process reveals that developed and developing countries participate in unequal footings. Developed countries along with their mighty MNCs exert a very strong force globally while developing country governments and civil society organization hold much less say. Developed country governments often reserve and exercise the right to take unilateral and bilateral actions. Economic efficiency argument in support of globalization ignores real social consequences. Farmers in developing countries commit suicides as commodity prices crash, workers lose jobs as they are retrenched from factories because developing countries like India, Mexico, and Philippines do not have the advantage of economies of scale. Globalization is often accused of contributing to the rise in poverty in developing countries. Poorer countries (Africa, the Balkans, parts of Caribbean) share in world trade has fallen over the past 20 years. Income inequality has risen in most regions such as in developing Asia, emerging Europe, Latin America. Despite all claims of welfare in the globalized era, more than a billion people in the world still live on less than a dollar a day. On an average, developed countries impose tariffs on developing countries four times higher than those on developed ones. Rich countries incur cost three times more in trade restrictions then they give in development aid. Globalization pushes workers from the organized to the unorganized sector where they enjoy much less job security and sometimes lower wages as well.