To what extent is Globalization likely to increase the developing gap between rich and poor countries. Globalisation may be the concept of the 1990s, a key by which we understand the transition of human society in to the third millennium. My essay will be focusing on the economic side of it. I will be explaining the MNCs effect on the poor countries in respect to the rich countries ( of course intending developed countries and less …
showed first 75 words of 1780 total

showed last 75 words of 1780 total
…on development as liberals or their critics suggests. Foreign direct investment can help or hinder, but the major determinants of economic development lie within LDCs (less-developed countries) themselves" . However, dependency theorists would disagree. Their basic argument is that foreign investment, or any other economic contact that poor countries have with the world's economic system, particularly with the rich, capitalist, industrialised countries, has almost uniformly disastrous effects on the economic and political fortunes of those countries.