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How globalization facilitate developing countries to remain producers of raw materials and the same remain market of industrial products? 10 reasons?
ERNEST MTANKI
Jan 12
How globalization facilitate developing countries to remain producers of raw materials and the same remain market of industrial products? 10 reasons?
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Jan 12
Globalization can facilitate developing countries to remain producers of raw materials and consumers of industrial products in the following ways:
1. Access to global markets: Globalization allows developing countries to access larger and more diverse markets for their raw materials, increasing their export opportunities.
2. Increased foreign direct investment (FDI): Globalization attracts foreign investment in developing countries, which can lead to the development of industries and the production of industrial products.
3. Technology transfer: Globalization enables the transfer of advanced technologies from developed countries to developing countries, which can help them upgrade their production capabilities and diversify their industries.
4. Infrastructure development: Globalization often necessitates the development of infrastructure, such as transportation and communication networks, which can benefit both the production and distribution of raw materials and industrial products.
5. Specialization and comparative advantage: Developing countries can specialize in the production of certain raw materials due to their natural resources and comparative advantage, while importing industrial products from countries with a comparative advantage in manufacturing.
6. Economic growth and job creation: Globalization can lead to economic growth in developing countries, creating more job opportunities in both the raw materials and industrial sectors.
7. Increased income and living standards: As developing countries participate in global trade, their income levels can rise, leading to improved living standards and increased consumption of industrial products.
8. Knowledge and skill acquisition: Globalization provides opportunities for developing countries to acquire knowledge and skills through international collaborations, which can enhance their capacity to produce and consume industrial products.
9. Access to finance and capital: Globalization allows developing countries to access international financial markets, enabling them to secure funding for industrial development and infrastructure projects.
10. Economic diversification: Globalization encourages developing countries to diversify their economies beyond raw materials, promoting the growth of other sectors and reducing their dependence on a single industry.
1. Access to global markets: Globalization allows developing countries to access larger and more diverse markets for their raw materials, increasing their export opportunities.
2. Increased foreign direct investment (FDI): Globalization attracts foreign investment in developing countries, which can lead to the development of industries and the production of industrial products.
3. Technology transfer: Globalization enables the transfer of advanced technologies from developed countries to developing countries, which can help them upgrade their production capabilities and diversify their industries.
4. Infrastructure development: Globalization often necessitates the development of infrastructure, such as transportation and communication networks, which can benefit both the production and distribution of raw materials and industrial products.
5. Specialization and comparative advantage: Developing countries can specialize in the production of certain raw materials due to their natural resources and comparative advantage, while importing industrial products from countries with a comparative advantage in manufacturing.
6. Economic growth and job creation: Globalization can lead to economic growth in developing countries, creating more job opportunities in both the raw materials and industrial sectors.
7. Increased income and living standards: As developing countries participate in global trade, their income levels can rise, leading to improved living standards and increased consumption of industrial products.
8. Knowledge and skill acquisition: Globalization provides opportunities for developing countries to acquire knowledge and skills through international collaborations, which can enhance their capacity to produce and consume industrial products.
9. Access to finance and capital: Globalization allows developing countries to access international financial markets, enabling them to secure funding for industrial development and infrastructure projects.
10. Economic diversification: Globalization encourages developing countries to diversify their economies beyond raw materials, promoting the growth of other sectors and reducing their dependence on a single industry.
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Byaruhanga adam
Jan 12
Hat is a map
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