The Pros And Cons Of Foreign Aid

Foreign aid is greatly acknowledged as a stream of financial resources from developed to underdevelopment nations on development grounds. Today, foreign aid is extensively identified as an international norming relations between having a large fortune and indigent countries. Aid can be in the form money, goods or technical assistance. Foreign aid is one of important things which support this world to go to for globalized. Therefore, Globalization is a process of global economic, political and cultural integration. It has papered the world which become a small village; the limitations have been broken down between countries. ''The history of globalization goes back to the second half of the twentieth century, the development of transport and
communication technology led to situation where national borders appeared to be too limiting for economic activity'' (Economic Globalization in Developing Countries, 2002). Globalization is acting to an progressively vital role in the underdevelopment nations. It can be seen that, globalization has definite gains such as economic processes, technological developments, political influences, health systems, social and natural environment factors. It has a lot of profit on our daily life. Globalization has made a new opportunities for underdevelopment nations. Such as, technology transfer hold out promise, greater opportunities to access developed countries markets, growth and improved productivity and living standards. However, we cannot say that all effects of is correct and useful for our life from this phenomenon are positive. Because, globalization has also raised up new defies such as, environmental declines, instability in commercial and financial markets, increase inequity across and within nations.