I believe that globalization promotes development by spreading technology and knowledge to all over the world. It positively enhances the world economy. I’d like to shed light on two aspects. One is for the economy in developing countries and the other is for the economy in developed countries.
First, investment/overseas operations contribute to generate job opportunity for people in host countries. I believe that launching a business in host countries or investment would be effective to increase their incomes. Besides, workers are taught skills and exposed to new technology. As a result, national strength of host countries would be enhanced. I believe that a strong industrial economy has been proved to be the best way to lift people out of poverty. This is significantly beneficial to developing countries. Let’s take semiconductor factory for example. Sony builds one semiconductor assembly factory in Thai land. It is said that establishment of this factory increased employment and boosted Thai land’s economy.
Second, the world economy has been encouraged by franchise system. I believe that one of the symbolic ideas of globalization is franchise system such as Macdonald, Seven-Eleven. Especially this business model has been penetrated in developed countries. We can find franchise chain shops at every corner across the nation. For example, Sushi, bowl of rice topped with beef, Chinese noodle franchise chain are typical in
In conclusion, globalization is beneficial to both economy in developing countries and developed countries.