Implications of Economic Globalisation on Third World Countries

Globalization refers to increased integration of nation states through economic exchanges, political ties, technological development and cultural influences. While globalisation can be understood from political, cultural and technological facets, in this research, focus is made on economic globalization. The research explores how existing forms of international trade, capital mobility and technological innovations affect developing countries. While economic globalization has positive, innovative and dynamic aspects, it involves negative, disruptive and marginalizing aspects. This scenario raises questions of economic justice such as inequality, marginalization, financial instability, trade imbalances and reduced of human development in the process.