Globalization Flashcards
Economy - Positive impact
- MNCs - jobs, investment, local companies prosper
- Competition.
- India can raise voice for fairer trade rules.
- Consumers choice.
- Tech development - telecom, service boom.
- Foreign Collab - edu quality.
- Internet extension to rural - inclusion
- Can export excess = less wastage
- Cultural interaction removes cultural barriers eg marketing Indian spirituality
- Agriculture contract farming
- Women
Definition
Economy - Negative impact
- Trade deficit increased
- Drugs, arms, human trafficking
- Outsourcing = job loss = led to protectionist measures
- Economies interlinked - financial crisis in one = in other eg GFC (slowbalization since 2008)
- Agri didnt improve - state role decreasing
- Neo colonialism eg african
- MNCs ruling the globe
- Env degradation
- Destruction or traditional services eg McD vs paratha
- Cultural erosion and imperialism
- Advent of consumer credit society eg BNPL
On health / food / nutrition
- Stress, anxiety, depression due to change in lifestyle patterns
- Fast food culture - obesity
- Communicable diseases - AIDS, Covid
- New food eg oats
- Advances in medicine and diagnosis by MNCs - MRI nano biotech
On Aged
52% fully dependent 18% partially
10% of mnrega workers 61/>
Empty bird syndrome
Positive
1. Care economy.
2. Remittances - standard of living
3. New cultural forces eg grandpa day
4. Introducing global best practices eg Swiss time Bank
5. Diverse social security
6. Online connectivity
Negative
1. Joint to Nuclear families
2. Cultural erosion.
3. Lack of true social security (family)
4. Isolation and mental health
5. Digital divide , cyber harassment
On education
commercialisation, divide, homogenised (english)
On religion
On tribals
- Destruction of local products.
On environment
On youth
On culture
Art forms - fusion, zumba
Homogenisation
Mcdonaldization - fast food culture
Walmartization - killin smol biz
Glocalisation
Improves cultural metacognition
