Topic > Competitive Advantage and Disadvantages of Globalization

“Some critics believe that the structure of the global economy favors developed countries over less developed countries” (OSLAND, 2003). While Bigman (2002) finds that labor-rich developing countries have also gained significant benefits from export-oriented international trade through an empirical study of GDP per capita of 152 both developing and developed countries that have been involved in the process of globalization in the last two decades, and also reflected some conflicts, such as avoiding the development of the internal market. Therefore critics focus on its destructive environment in developing countries, widening the wealth gap between developed and developing countries (Sachs, 2005; Bhagwati, 2004; Wolf 2005 and 2010; Stiglitz, 2002; Chang, 2008 and 2010; Chua, 2003; Hamilton & Webster, 2012) and destroying local economies through contagious economic turbulence due to the interdependence of countries, such as the global financial crisis in