The effects of the development of economic globalization that brings to the developing countries

Globalization, as coined cited in Landau (2001), is ¡§ internationalization of markets where products are widely traded, capital is mobile, not particularly site-specific, and will move to different location should profits be higher (and secure); consumption patterns in different countries are not mutually exclusive, or at least can be catered to by extending the product range, and prices are sensitive across borders and predominantly set in world (cross border) markets.¡¨ Globalization is really a hot topic for the recent years. It seems that it is a conjuncture of economic components, supported by powerful players and a web of institution. Especially, the economy of the whole world growing or depression, currency inflation or deflation, are totally affected by this phenomenon. It has added a new line of divide in the world economy, and identifies the winner and the losers. Undoubtedly, the winner is the one who can increase integrated in the world economy by getting benefit from ...