Developing countries are often at a disadvantage in the global economy from "summary" of Globalization and Its Discontents by Joseph E. Stiglitz
Developing countries face numerous challenges that put them at a disadvantage in the global economy. One key issue is the lack of infrastructure and technological capabilities, which hinders their ability to compete with more advanced economies. Without access to the latest technologies and efficient transportation networks, these countries struggle to attract foreign investment and participate in global trade on an equal footing.
Furthermore, developing countries often have limited access to capital and credit, making it difficult for them to finance development projects and stimulate economic growth. The high cost of borrowing and the risk of default make it challenging for these countries to invest in education, healthcare, and other essential se...
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