ABSTRACT

Globalization is the term used to describe the growing worldwide interdependence of people and countries. The process has accelerated dramatically in the past decades largely due to advances in technology.

With the advent of globalization, trade barriers between countries have come down, movement between countries has become easier and world’s major financial market have been integrating. This growing worldwide integration has produced diverse consequences may be beneficial or detrimental.

This work examines the effects globalization has on developing countries. The instrument for data collection was the questionnaire. The analysis and findings highlight the two – fold impact of globalization on developing counties. Finally, this work recommends implementation of sound policies in order to moderate the adverse effects of globalization while consolidating its benefits.

CHAPTER ONE

INTRODUCTION

1.1       Background of the study

The phenomenon of globalization begin in a primitive form when humans first settled into different areas of the world; however, it has shown a rather steady and rapid progress in the recent times and has become an international dynamic which due to technological advancement. Has increased in speed and scale, so that countries in all five continents have been affected and engaged.

The term globalization, cover a wide range of distinct political, economic and cultural trends. It has become one of the most popular topics of debate around circles. It has been used by economists since the 1980s, social theorist have moved beyond the relatively under developed character of previous reflections on the compression and annihilation of space to offer a rigorous conception of globalization.Human societies across the global have established progressively closer conducts over many centuries, but recently the pace has dramatically increased. Jet air planes. Cheap telephone service, email, computer, huge oceangoing vessels, instant capital flows; all these have made the world more interpedently than ever. Multinational corporations manufacture products in many countries and sell to consumers around the world. Many, technology and raw materials move ever more swiftly across national borders. Along with products and finances, ideas and cultures circulate more freely. Many politicians’ academics and journalists treat these trends as both inevitable and welcome. But for billions of the world’s people, business-driven globalization means uprooting old ways of life and threatening livelihoods and cultures. Intense political disputes will continue over globalization meaning and it’s future direction.

What is Globalization? it is defined as a process which, based on international strategies, aims to expand business operations on a worldwide level and was precipitated by the facilitation of global communications due to technological advancements, and socio economic, political and environmental developments. Globalization, the growing integration of economies and societies around the world, has sparked one of the most highly charge debates of the past decade. Critics of globalization have argued that the process have exploited people in developing countries, caused massive disruptions and produced few benefits. Supporter point to the significant reductions in poverty achieved by countries that have embraced integration with the world economy such as China, Vietnam. India and Uganda.

Contemporary analysts associate globalization with deterntorialization, according to which growing variety of social activities takes place irrespective of the geographical location of participants. As Jan Aart Schulte observe global events can via telecommunication. Audio-visual media almost occur simultaneously anywhere and every where in the world” (Schotte, 1996: 45) Globalization refers to increased possibilities for action between and among people in situation where latitudinal and longitudinal location seen immaterial to the social activity at hand. Business people in different continents now engage in electronic commerce, academics make use of the latest video conferring equipment to organize seminars in which participants are located at different geographical locations. In this sense, the term globalization refers to the spread of new forms of non-territorial social activity. Globalization also include reference to the speed and velocity directly of social activity. Heterritorialization and interconnectedness initially seem spartial in nature. Yet it is easy to see how these spartial shifts are directly tied to the acceleration of crucial forms of social activity. There have been various ideas and definitions by different scholars, economies, social and political scientists….