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Does globalization help or hinder developing countries?

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Question added by Samer Khatib , Economics Moderator , Bayt.com
Date Posted: 2016/10/03
Duncan Robertson
by Duncan Robertson , Strategy Consultant , Duncan Robertson Consultancy

Ah, now this is a question!  People write academic books and PhDs on this topic.

The simple answer is that if a country is not industrialised, and wishes to become industrialised, then international free trade will assist this process both in speed and breadth of industrialisation.

Note that I do not use the value-laden terms 'development' and 'globalisation' in my answer.  Their definitions are too vague and controversial to be useful in this context.

Industrialisation has benefits and costs, and aspects which are beneficial to some groups and costs to others.

 

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