Globalization - The Opportunities and Challenges
for Developing Countries
I. Introduction
Globalization is the word that we often hear in recent years. It is also one of the hottest topics in international economic forums and receives many supports as well as oppositions among people from many countries in the world, in both developed and developing countries.
Globalization is a term used to describe the changes in societies and the world economy that result from increased international trade and cultural exchange. It describes the economic, technological, and cultural linkages that connect individuals, communities, businesses, and governments around the world. In specifically economic contexts, it describes the increase of trade and investing due to the falling of barriers of countries and it is often understood as trade liberalization or free trade. Globalization also involves the growth of multinational corporations. Items common to our everyday live such as the clothes, food, personal transportation means are the products of globalization.
Globalization has both positive and negative aspects. Among the positive aspects are a sharing of basic knowledge, technology, investments, and resources. Among the negative aspects are an increasing of poverty and inequality, generating some serious issues such as labor rights and environment.
In this paper, I would like to present about the opportunities and challenges of globalization for developing countries, especially for Vietnam.
II. Opportunities
Advances in communication, information technology, and transportation bring many benefits to globalization. Internet, the global computer network, is a vast information store and it allows us to do many things that we have never thought before. Nowadays, Vietnamese people can easily find information from Internet to use for their jobs or studies. Just one click from Google, one can find thousands of pages containing information he need immediately. Or we can easily...