GLOBALISATION Flashcards
GLOBALISATION
Globalization is the process by which businesses, cultures, and people
become interconnected and interdependent on a global scale. This
includes the exchange of goods, services, information, ideas, and people
across borders
Economic Globalisation:
The integration of national economies through trade, investment, and
capital flow.
Eg nike
Cultural Globalisation:
The sharing and blending of cultures through media, travel, and
communication.
EG MCDONALDS
Technological Globalisation:
The spread of technology and the internet across the globe. EG WhatsApp
Political Globalisation:
The influence of international organizations and treaties on national policies. eg United Nations
Economic Growth:
Countries can specialize in producing goods where they have an advantage,
leading to increased efficiency and growth.
Access to Goods and Services:
Consumers have access to a wider variety of goods and services
from around the world.
Cultural Exchange:
Exposure to different cultures can lead to greater understanding and tolerance.
Technology and Innovation:
Shared knowledge and collaboration can lead to technological
advancements.
Job Opportunities:
Globalisation can create jobs in developing countries through foreign investment
and trade.
Economic Inequality:
Benefits of globalisation are often unevenly distributed, leading to a gap
between rich and poor.
Cultural Homogenisation:
Local cultures can be overshadowed by dominant global cultures, leading
to a loss of cultural identity.
Environmental Damage:
Increased production and transportation can lead to environmental
degradation.
Job Losses in Developed Countries:
Companies may move production to countries with cheaper
labor, leading to job losses at home.
Exploitation of Labor:
Workers in developing countries may face poor working conditions and low
wages.
