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Globalization Study Notes

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Globalization
In globalization, the modernization theory states that low-income nations suffer due to a
lack of industrialization. The theory also adds that these countries can advance and develop
through industrialization and adjusting work attitudes and cultural values. From this perspective,
modernization theory states that all countries advance through similar development stages, thus
forming the notion that developed nations invest and implement technology transfers to these
countries to accelerate this growth (Lumenlearning, 2020, para 2). In relation to the video "how
fair is fashion? Issues in globalization," the audiovisual showcases various examples of
modernization in Bangladesh's fashion industry (Digital Rights Group Limited, 2012). In
Bangladesh's fashion industry, modernization theory applies since the video depicts an increase
in industrialization, especially in the textile sector. According to the video, Bangladesh's
economy relies on textiles due to increased investments and product orders from multinational
companies. Regarding improvements in work attitudes, the video illustrates Swallows's fair trade
policies that have led the company to employ 250 women, getting better pay and working fewer
hours (Digital Rights Group Limited, 2012). Such advancements depict modernization theory
since the nation shows an inclination towards increased productivity and fair employment, which
are traits of developed countries.
On the other hand, dependency theory rejects modernization on the premise that low-
income countries are not smaller versions of developed nations but countries with structures that
make them weaker members of the world economy. Additionally, the video states that rich
countries exploit developing nations for economic stimulus (Lumenlearning, 2020, para 5). In
the video, the dependency theory is evident since multinational organizations take advantage of
low labor costs in Bangladesh to enhance profitability. The narrator states that everyone wants a

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Student’s name Professor’s name Course Number: Course name Institutional Affiliation Date Globalization In globalization, the modernization theory states that low-income nations suffer due to a lack of industrialization. The theory also adds that these countries can advance and develop through industrialization and adjusting work attitudes and cultural values. From this perspective, modernization theory states that all countries advance through similar development stages, thus forming the notion that developed nations invest and implement technology transfers to these countries to accelerate this growth (Lumenlearning, 2020, para 2). In relation to the video "how fair is fashion? Issues in globalization," the audiovisual showcases various examples of modernization in Bangladesh's fashion industry (Digital Rights Group Limited, 2012). In Bangladesh's fashion industry, modernization theory applies since the video depicts an increase in industrialization, especially in the textile sector. According to the video, Bangladesh's economy relies on textiles due to increased investments and product orders from multinational companies. Regarding improvements in work attitudes, the video ...
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