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<b>HCMC UNIVERSITY OF TECHNOLOGY AND EDUCATIONFACULTY FOR HIGH-QUALITY TRAINING</b>

<b>COURSE: SCIENTIFIC WRITING</b>

<b>Topic: Globalization refers to the interconnectedness and integration of economies,cultures, and societies around the world. It is characterized by the free flow ofgoods, services, capital, and people across national borders, facilitated by advancesin technology, transportation, and communication. Globalization has manydimensions, including economic, political, cultural, and social. Economically,globalization is driven by the expansion of international trade and investment, aswell as the growth of multinational corporations that operate across multiple</b>

<i>Ho Chi Minh City, 9 May, 2023</i>

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<b>CONTENTSA</b>

<b>1.The definition of globalization...2</b>

<b>2. An overview of globalization in developing economizes...2</b>

<b>3.The issue facing developing economies...3</b>

<i><b>1. The benefit of globalization...4</b></i>

<b>1.1. An overview of globalization trend...4</b>

<b>1.2. Since participating in globalization, developing economies growth up better...4</b>

<b>1.3. Globalization solves the problem of employment and human resource allocation1.4. Developing science and technology in the country...6</b>

<b>1.5. Implement the policy of multilateralization of international relations...6</b>

<b>1.6. Globalization is an opportunity and a driving force for developing economies.. .7</b>

<b>2. Challenges of globalization...8</b>

<b>2.1 Developing economies are dependent on economic agreements, complex binding regulations...8</b>

<b>2.2.Globalization leads to an economy dependent on exports...9</b>

<b>2.3 The competitiveness of the economy is weak...10</b>

<b>2.4. Debt of developing countries is increasing...11</b>

<b>2.5. Globalization is bad for the environment...12</b>

<b>2.6. Globalization leads to a strong gap between rich and poor...13</b>

<b>2.7. Globalization leads developing economies to become dependent on foreign enterprises...14</b>

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<b>REFERENCES...15</b>

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<b>LIST OF FIGU</b>

<b>Figure 1. Vietnam's long-term growth...3</b>

<small>Y</small><b>Figure 2. Gross international assets and liabilities( trillions of US dollars)...4Figure 3. Investment growth rate</b>

<b>Figure 4. Import and export situation of FDI sector in Viet NamFigure 5. The ration of public debt to GDP</b>

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<b>LIST OF TABLE</b>

<b>Table 1 Barriesr to developing a circular economy model towards sustainable economic development...10</b>

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<b>LIST OF PICTURE</b>

<b>Picture1: Environmental Kuznet’ Curve...13</b>

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<b>INTRODUCTION1.The definition of globalization</b>

“Globalization appeared in the 1960s, during the development of the global economy, it has become and is becoming the most widely used concept in the world. It is considered as a trend for the future, linking relations between countries, narrowing economic, political and social borders. Dr. Nayef R.F. Al-Rodhan gives a definition of globalization that “Globalization is a process that causes the causes, course, and consequences of transnational and transcultural integration of human and non-human activities.” This article will talk about the effects of globalization on various aspects of the economy in general and the economies of developing country in general.

<b>2. An overview of globalization in developing economizes</b>

Globalization and regionalization have taken place strongly in recent decades, especially since the end of the Cold War. This process has been adjusted in recent years and is an irreversible trend that will continue in the future. It is an opportunity for developing countries in general and Vietnam in particular to be able to compete with developed countries in the region such as China, Korea or Japan. Joining globalization, countries with conditions favorable conditions to strengthen connectivity, promote cooperation and development in the region, develop the country's economy, and raise the national position. For example, participating in FTAs helps them expand import-export markets, increase FDI attraction, improve the competitiveness of the economy, etc. Participation in regional and global cooperation initiatives such as:Greater Mekong Subregion (GMS), Mekong - Lancang (MLC), Belt and Road (BRI), Equitable Energy Transition Partnership (JETP)… help them have favorable opportunities for development and connecting cross-border economic corridors, dealing with the challenge of climate change. In addition, participating in globalization, countries have the opportunity to

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strengthen relations with major countries, especially permanent members of the United Nations Security Council, participate in handling international issues and area.

<b>3.The issue facing developing economies</b>

Solving the problems of poverty, employment, and economic resiliency is the issue. Connections between countries in the area and globally, as well as cultural and economic development. A prime illustration of globalization is Vietnam.

<b>Figure 1. Vietnam's long-term growth</b>

Since 1984, Vietnam has reformed its economy, abolished the subsidized economy and switched to a market economy. Normalize relations with hostile countries. Table 1 shows the growth of the Vietnamese economy before and after joining globalization.

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<b>CONTENT1. The benefit of globalization</b>

<b>1.1. An overview of globalization trend</b>

Trade liberalization expands, tariff barriers between countries are abolished or reduced, goods have wide circulation conditions. From there, developing countries can export key products to potential markets around the world. The nature of the economy operates on the basis of trust between the parties, cooperation and development. Participation in globalization, cultural and political exchanges, especially in the economic field, helps countries integrate with the general trend of the world, thereby improving people's living standards.

<b>1.2. Since participating in globalization, developing economies growth up better</b>

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<b>Figure 2: Gross international assets and liabilities( trillions of US dollars)</b>

<i>Note: The financial integration data are based on a dataset constructed by Lane andMilesi-Ferretti(2006). The time period of analysis is 1970-2004. </i>

The charts show how the components add up to the total itegration measure in each period. Debt includes both official and unofficial debt. The category “other” includes financial derivatives and total reserves minus gold. Since 1980, engaging in international integration has improved the economies of developing nations. The group's overall reserve of assets and liabilities has, on average, expanded more than five times. is an order of magnitude greater than in other developed countries over the past two decades. For example, Vietnam has signed economic development agreements with countries in the region and around the world, thereby opening up its economy, such as the ASEAN Economic Community (AEC), trade agreements and trade agreements. free trade (FTA).The international market is the best place for trade, import and export of essential commodities to serve the people. By joining the WTO trading system, it not only helps economic development but also preserves peace and security as the most basic principle of the trading system.

<b>1.3. Globalization solves the problem of employment and human resource allocation</b>

People said that small entreprenurs form the backbone of the global economy. They provide more than 70% of jobs worldwide and contribute more than 50% of the GDP of developing countries, according to the International Labor Organization (ILO). That contributes to solving job needs, contributing to stabilizing people's lives, stimulating domestic spending, contributing to economic development. A worker can now apply for a job anywhere, working for a transnational company without moving to that country. Remote work has become popular since the world was quarantined due to the pandemic. Globalization has opened the way to commercialization around the world, drawing borders closer than ever. By expanding the job market, workers can find it easier to find a job they love with the desired salary. According to the Department of Labor Management, since 2009, Vietnam has had 65,787 people choose to work abroad since

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2009.Globalization brings many job opportunities for workers in developed countries. For many years, developed countries started the process of "going for work". That attracts a large number of low- to high-skilled workers to move to countries like Japan and Korea with a higher salary than in the country.

<b>1.4. Developing science and technology in the country</b>

The advancement of science and technology and the liberalization of the financial sectors with potential for development are one of the factors that contribute to strong globalization, the development of financial markets from which people, investors, businesses borrow more. National policies, infrastructure development as well as high-quality labor resources, thereby attracting many foreign enterprises to Vietnam for production. The development of science and technology helps people to quickly access knowledge. That is especially true of the labor market. Accelerate the process of improving skills and knowledge, and catch up with the trend of globalization.the reduction of time and costs related to trade to the maximum, leading to benefits in promoting factors such as money, technology, and knowledge. Especially with developing countries, reduce the economic and social gap with other countries.

<b>1.5. Implement the policy of multilateralization of international relations</b>

The strong rise of emerging economies when participating in globalization makes this trend growing stronger. Actively participate in international integration proactively, in many fields that are being prioritized for comprehensive and sustainable development. For example, the Asia-Pacific Economic Cooperation (APEC) forum helps to connect supply chains in the region in particular and the world in general. Trade equality. "APEC strategy on small, medium and micro enterprises, green, sustainable and innovative", to support the development of small, medium and micro enterprises.That helps them to access and expand the goods consumption market, capture the requirements and quality

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of the target markets. For example, Vietnam, APEC has created 7/10 largest export markets, contributing 78% of foreign direct investment (FDI).

<b>1.6. Globalization is an opportunity and a driving force for developing economies</b>

<b>Source: Haver's analysis; World bankFigure 3: Investment growth rate</b>

The Figure compares investment growth rates of developed, emerging and developing countries with China and without them. We can easily see that during the covid 19 pandemic in 2019, economies tend to have negative growth. But in which emerging and developing economies still maintain a better position than other economies Especially after the covid 19 pandemic, developed economies have a strong recovery. FDI inflows into developing economies increased by 30% to nearly 870 billion USD, of which East and Southeast Asia increased by 20% in 2021. This is an opportunity as well as a challenge that needs to be overcome in order to develop. stronger in the context of the pandemic.In the context of the global economic downturn, developing countries have the advantage of investment growth, thereby narrowing the gap between the two countries. Especially, foreign enterprises tend to shift production since the US-China trade war has developed strongly. Emerging economies like Vietnam, India,..etc.

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Technology transfer and production lines have been a global trend in the context of avoiding a supply chain disruption. In the past, Vietnam's agricultural products could only be exported to the Chinese market. By export agreements to markets that bring high value to agricultural products, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, have brought economic benefits to farmers. Developing countries currently have the conditions to attract FDI such as low labor costs, stable political situation, international trade agreements and diverse modes of transportation. Vietnam is a typical example of these conditions. The international press once said that Vietnam will become an Asian dragon thanks to strong economic development, curbing inflation and coming up with the right policies to attract foreign businesses. One point that makes globalization a lever to help developing economies have more than one opportunity to break through is the transfer of technology and taking advantage of the available high-quality labor force. The strong application and investment in automation has met the output standards for products assessed by prestigious organizations in the world, helping products to conquer markets with high value. as high as the US, Japan, and Australia

<b>2. Challenges of globalization</b>

<b>2.1 Developing economies are dependent on economic agreements, complex binding regulations</b>

Globalization is an opportunity, as well as a challenge. The benefit it brings is the potential, to exploit the maximum value it brings if and only when the prerequisites are fully met. Countries that want to develop and participate in globalization need to comply with regulations, standards and laws when participating. For example in the WTO, developed countries are not willing to consume the exports of developing countries, with high labor conditions and environmental sanitation creating barriers for developing countries to participate in the WTO. globalization progress

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<b>2.2.Globalization leads to an economy dependent on exports</b>

Globalization is like a financial plan for every country and the most important part of any plan is planning in case it doesn't go as planned. The lessons of the past have all come from the result of a succession of events. Because of the great benefits that globalization brings, more and more countries are participating in the process. FDI has poured into developing economies, which has revealed a weakness that is heavily dependent on exports. On the other hand, there are only a few foreign enterprises but they contribute a large part to the economy. That shows that there are many risks, low growth quality

<b>Source: Department of planning and investment Figure 4. importand export situation of FDI sector in Viet Nam</b>

The table below compares the proportion of the economy. Vietnam is one of the fastest growing and stable economies. The proportion of trade surplus accounts for the can of the economy. Exports are nearly three times larger than imports. The table above shows that there are some major problems such as growth recovery and high growth

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