How does Walt Rostow's Modernization Theory relate to the critiques of dependency theory and the effects of globalization on developing nations?

Walt Rostow's Modernization Theory suggests that countries develop in stages, moving from traditional societies to modern, industrial ones. This theory contrasts with dependency theory, which argues that developing nations are held back by their reliance on wealthier countries, creating a cycle of poverty. Critics of modernization theory believe it oversimplifies development by ignoring historical and social contexts, often overlooking how globalization can both help and hurt developing nations. For example, while globalization can bring investment and technology to poorer countries, it can also lead to exploitation and increased inequality. Therefore, understanding development requires balancing these theories and recognizing the complex realities faced by nations today.