You will prepare and submit a term paper on International Business Issues. Your paper should be a minimum of 250 words in length. Finally, the competition arising from globalization encourages creativity and innovation, in addition to keeping commodity prices, and services in check (Stief 5).
However, just like everything else, globalization comes with its demerits. Firstly, the interaction of different world cultures has .eventually .begun to meld, thus fading the .identity .of each. The second negative effect is that while outsourcing provides job opportunities to people in one country, it takes away those opportunities from another country thus leaving most of the population jobless. Finally, globalization has increased the chances of spreading highly contagious diseases worldwide, and it might be an .immense .challenge to .stop .the spread (Stief 6).
Globalization also has .various .effects on developing countries such as Honduras, a country rich in natural resources, but like most third world countries, only the wealthy and foreign corporations benefit from this wealth, not the poor. .The first effect is that third world countries can now .improve .their .economic .performance .and their living standards as more money gets channeled to these countries. .Secondly, developing countries have the .privilege .to enjoy the benefits of highly developed technology available in the market without having to .develop .them. Finally, the opening up of trade barriers has made it possible for developing countries to .take .their local resources to the global market (Stief 8).
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