4. Discuss the positive and negative aspects of globalization in third world countries. Globalization is a process of creating a more open world, in many areas, some of which concern politics, economics, law and media. According to Mojmir Mrak, (2000) globalization is the process of continuous integration of the countries of the world and is strongly underway in all parts of the globe. Third world countries include all of Africa, Asia (apart from the Soviet Union, China, Japan, Latin America and the islands of Oceania), Australia and New Zealand, consist of from third world countries. Globalization is the tendency for investment funds and businesses to move beyond national and domestic markets to other markets around the world, thereby strengthening each other's diverse markets. Globalization has had a significant impact not only on the increase in international trade, but also on cultural exchange. The negative impact of globalization in a third world country affects the economy. Globalization, from an economic perspective, involves the integration of world trade and financial markets, but given that developing countries are not really catching up with advanced economies, the impact of globalization on Third World countries leaves much to do. In the world trade arena, the share of primary goods in global exports of goods such as food and raw materials has declined relatively recently. As regards capital movements, we note that net official flows of “aid” or development assistance from advanced economies to Third World countries have declined significantly since the early 1980s. As regards the movement of people from poorer areas to richer ones, there is an increase of... middle of paper... (2012). The impact of globalization on third world countries. Available: http://ydesh.com/world/the-impact-of-globalization-on-third-world-countries/. Last accessed 2 June 2014.2. Mojmir Mrak. (2000). Globalization: trends, challenges and opportunities for countries in transition. GLOBALIZATION AND INTEGRATION OF INDUSTRY IN THE REGION. 1 (1), p3-8.3. Manjusha Nair. (2014). Essential conditions for globalization. Available: http://www.scribd.com/doc/50029603/Essential-conditions-for-globalisation. Last accessed 9 June 2014.4. Justice and government. (2011). Positive effects of globalization. Available: http://www.justice4darfur.org/positive-effects-of-globalization.html. Last accessed 9 June 2014.5. Investopedia US, a division of IAC. . (2014). Definition of globalization. Available: http://www.investopedia.com/terms/g/globalization.asp. Last access June 9th 2014.