Sample Research Paper
Globalization is fast becoming the new reality in the GCC countries. This is has led to the gulf countries to tread on uncharted territory. The trend towards globalization and the threads attached to it can have an effect on the very lives of the citizens these countries cater for. Globalization can bring the promise of open markets and opportunities to have access to all the tools a country needs for development.
On the other hand, globalization can also lead a country towards marginalization. “The relation between human development and globalization can be visualized in the following manner: the effects of globalization on a developing economy, such as the ArabGulfcountries, could be backwash effects or spread effects. The backwash effects means that globalization could contribute to and the source of human deprivation through processes of marginalization (of the country) and social exclusion (of individuals and groups based on social, ethnic, occupation/ skill, age or gender grounds)” (Jiyad, A. M, 1998).
Globalization leads to foreign direct investment FDI, which in turn leads to capital inflow in the country and this can be used for developmental projects in a developing country. The steps towards globalization include:
- Liberalization of the local economy.
- Liberalization of state property ownership (privatization).
- Regionalization and multilateralism.
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