Assessment Task 1: Outline of essay or policy brief. Why Globalization is a Force for Development.

Why Globalization is a Force for Development
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Why Globalization is a Force for Development
Introduction
Globalization provides a platform where developing countries can achieve trade relations with the world’s economic powers. The relationship between globalization and economic growth have in recent times gained significant attention from several economic parties around the globe (Sabi, 2007). In this brief paper, I will discuss the reasons why I think globalization is a force that spurs development.
Globalization emphasizes the importance of economic indicators to state corporations at all levels. Also, countries that prioritized the importance of foreign investment and merchandize trade in the international economy have improved and developed their economies. Improvement in the GDP and economic growth rate and foreign trade at international and regional levels due to the attraction of foreign investment. Also, data shows considerable growth in their economies is corresponds to an increase in Foreign Direct Investment inflows. (Moghaddam, 2012)
The policy of globalization has been enhanced by advancing technology, the development of better transport, and increased international cooperation. An increase in international trade as a product of globalization is a great factor in stimulating development in many developing countries. The importation and exportation of goods and services serve to earn national income and eventually impact economic growth positively. There is also the emergency of free trade which allows interrelating nations to exchange goods and services with minimal regulations from the governments (Editor in Chief, 2015).
International cooperation enhances the production of more quality goods at lower prices. Countries are encouraged to specialize in what they can best produce using the least amount of resources available. Competition from other countries encourages a nation to improve the quality of their products. The concept of comparative advantage promotes the efficient production of goods, economic growth, and lower prices of goods and services that are more affordable to lower-income households. (Melina Kolb, 2019)
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