Problems faced by backward countries in implementation of globalization policies
Many economists consider it unclear how far international competition and globalization can go in a highly diverse world with differences in basic facilities, non-equal availability of information, differences in the stages of development of different countries, and limitations in terms of labor and investment. Because of these differences among the countries of the world, the integration of the global economy brings benefits in some respects and challenges in others. These countries have already spent a lot of time preparing their markets to compete globally. Factors such as high world prices, continued official depreciation of their currencies and rising import volumes pose problems for their international marketing efforts. Moreover, the protectionist policies implemented in these countries, discretionary procurement policies implemented by the governments, incorrect technological changes and increasing bilateral trends have resulted in damaging the global marketing opportunities of these countries.
Developing countries are facing some fundamental problems in restructuring their economies towards globalization. The main ones are the growing sense of insecurity in terms of market conditions in the global financial system, the trade controls implemented by developed countries, the instability trends in the exchange rates implemented for their business payments, the obstacles in view of their technological changes, and the lack of international controls in the case of international currency. In addition to these, due to the limitations of the international economic system and the undesirable developments, Latin American countries, some middle-income countries in Asia and South America have not been able to make progress from globalization policies, but they are facing more foreign debt problems with low development rates. It can be said that the main reason for this is the lack of coordination in the macroeconomic policies of all the countries of the world in the international financial system, and the reason for this is that international organizations are not able to make appropriate efforts to achieve it. Thus, differences in international trade between developed and developing countries continue to persist even as developing countries implement globalization policies based on free market forces. Therefore, except for a few, most of the developing countries are implementing globalization policies, but they are not able to get the desired benefits from the international system.
Another important issue facing developing countries towards globalization is the growing sense of regionalism in the world market and the emergence of various regional trade events. In the first stage, the efforts of countries towards globalization led to the formation of regional trade events and the reason for the strengthening of the concept of globalization in the world economy, but the major trading countries are the major players in these regional trading blocs.
Due to the large number of regional business events, third world countries have to face challenges in terms of globalization policies. Looking at the recent developments in the global economic environment, while the US was the two most economically powerful centers during the Cold War between Russia, in the post-Cold War era of 1990, the industrialized countries formed a large number of regional business events for their international business strength in the global economy - especially the European Community, the North American Bloc, the East formed into Asian blocs. If we look at the consequences of the dominance of the French economic system, firstly developed countries are able to maintain their superiority over developing countries in international trade, they are some of the EEC, OECD. Organized regional business events such as the G-7. With this, the developing countries have also recognized the need to enhance cooperation among themselves to develop their international trade and have formed trade blocs such as OAU, COMECON, AFTA, ACM, ASEAN, SAARC G-77. This is the highest due to the increase in the number of regional business events.
Countries are giving more priority to organizing regional business events to strengthen their international trade. The recently emerged European Community has become the largest regional business event in the world, uniting all the European continents. With 320 million users, this alliance handles about 20% of global business. This event also created an opportunity for developing countries to develop their trade relations with European countries, undermining the interests of developing countries in international trade. The Asia-Pacific Economic Cooperation is a free trade agreement between the United States, Canada and Mexico. The emergence of international business events in which developed countries play a major role, such as the trade agreement between Australia and New Zealand in 1990, creates a situation where third world countries have to face challenges in terms of increasing foreign trade, but this has the potential to have a negative impact on the international business relations of developing countries like India. The competitive policies adopted by the developed countries in relation to continuous technological advancement are undermining the sense of balance and cooperation in the global economy. The ongoing technology competition policies of the developed G-7 countries are creating more problems for developing countries' business investment internationally. As part of the liberal globalization policies, the developing countries are given the opportunity to conduct direct investment and production programs under the liberal policies followed in the case of multinational corporations, foreign direct investment.
The ongoing technological and competitive policies are creating more problems in the business investment of developing countries internationally. As part of the liberal globalization policies, the developing countries are allowed to conduct direct investment and production programs under the liberal policies followed by multinational corporations, foreign direct investment, direct investment by diaspora Indians. Multinational corporations and other foreign-invested firms have adopted a continuous research approach to develop technology, thereby gaining an edge Liberal policies towards foreign direct investment implemented by developing countries in the direction of globalization are causing the downfall of indigenous industrial enterprises. As these types of conditions do not lead the industrial and technological sectors of the backward countries to the path of progress, the system of international non-trade may be more useful for these countries than globalization,
