consequences of global systems

Question 1

what are the benefits of free trade?

Answer 1

lower prices for consumers
greater choice
access to larger wealth markets for TNC’S
access to cheaper and raw materials

Question 2

what are the costs of free trade?

Answer 2

injustice of free trade- not giving enough protection to emerging countries so they cannot compete with developed countries
exploitation of workers and poor wages

Question 3

who are the main beneficiaries from globalisation?

Answer 3

NIC’S
TNC’S
international organisations
regional trade blocs

Question 4

what are the risks of economic interdpendence

Answer 4

• most significant disadvantage of globalisation

- negative economic shock in one country can quickly spread to others

Question 5

what are the social and cultural impacts

Answer 5

• greater sharing of ideas, lifestyles and traditions
• over standardisation of many goods and services has led to increased cultural homogeny
• access to western cultures leads to westernisation

Question 6

environmental impacts1

Answer 6

• increased pressure on finite resources
• depletation of non-renewable resources
• more transportation = emissions
• more waste from packaging
• greater movement giving a higher risk of invasive species being introduced