How is e-commerce transforming the economies of third world countries

How e-commerce is transforming the third world

There is no doubt that e-commerce is vastly transforming the “third world”. Globalisation might have kicked off with the sailing of wooden ships across the vast oceans, but the internet connected global computers together. Information has become more readily available for use by individuals. With this sharing of information came development in third world countries. Third world countries are developing fast and using e-commerce has become a vital tool to develop businesses in the third world.
Due to globalisation and e-commerce in particular the third has benefited a lot. The third world benefits in the sense of being able to buy heavy machinery on e-commerce sites such as Alibaba. E-commerce has provided large scale solutions to third world countries.

What are third world countries?

Third world countries are countries that are commonly regarded as low income countries. Although the term was initially targeted at countries that were non-aligned during the cold war. It is now used for countries that are relatively regarded as poor. These are countries such as India, Pakistan, and most African countries.

How does e-commerce help third world countries?

E-commerce helps third world countries by making tools and equipment available. These helps businesses grow. Machinery which was previously unavailable in third countries. E-commerce has also had a bad effect on the third world manufacturing sector. The manufacturing sector of third world countries depended a lot on industrial equipment manufactured in the East. This destroys the local economy as they continuously rely on foreign goods. The third world is transforming due to the high level of income generated by machines purchased through e-commerce.  However due to competition companies in the third world have to compete with highly advanced companies in first world countries.