globalization Flashcards
1
Q
define globalization
A
process by which world becomes increasingly interconnected as a result of increase trade + cultural change
2
Q
advantages of globalization
A
- better + cheaper products
- cultural exchange
- technology improvement
- better transport
- communication facilities
- international trade
3
Q
disadvantages of globalization
A
- delocalization creates unemployment in developed countries
- dependance on other countries
- market domination
- job insecurity : creates jobs for people in developing countries who are then exploded by bad job conditions and low wage
- mix of cultures can lead to loss of identity
- gap between rich + poor increases
4
Q
define free trade
A
an international trade were no tarrifs or other restrictions are found
5
Q
define fair trade
A
arragement designed to help producers in growing countries achieve sustainable + equitable trade relationships
