GLOBALISATION – Gerry Flashcards
Interconnected
to connect similar things; to be connected to or with similar things
Multinational corporation
a company that has business operations in at least one country other than its home country and generates revenue beyond its borders
Subsidiary
connected with something but less important than it
Holding company ( = mother)
a company that is formed to buy shares in other companies, which it then controls
Reasons for globalisation
Improvements in transition – larger cargo ships
Freedom of trade
Improvements of communication – internet and mobiles
Labour availability and skills
Positive impacts of globalisation
Transnational corporations bring inwward investment – provide new jobs and skills for local people
Brings wealth to local economies – can be spent on education, health and infrastructure
Sharing of ideas, experiences and lifestyle of people and cultures – foods and other products not previously experienced in their countries
Awareness of events in faraway parts of the world
It makes us aware of global issues
Negative impacts of globalisation
Critics of globalisation include groups such as environmentalists, anti – poverty compaigners and trade unions
Globalisation operates mostly in the interests of the richest countries which continue to dominate world trade at the expense of developing countries. The role of the world LEDCs ( less econimically developed countries) is to provide cheap labour and raw materials.
