Impacts of Globalisation Flashcards
What are four benefits of globalisation?
Integration
Development
Stability
Economic growth.
How does globalisation cause integration?
Globalisation allows countries to pool their resources to solve global issues that are too great for a single country to deal with.
How does globalisation cause development?
Foreign investment brings capital into a country which can be used to improve education and infrastructure.
This can attract further trade and investment which leads to further development.
Global institutions like the World Bank can direct resources to help countries develop further.
How does globalisation cause stability?
As countries become more interconnected, they become more dependent on one another.
This discourages any actions that would upset global stability, because of the negative consequences for all countries.
How does globalisation cause economic growth?
Participation in global trade allows countries to profit from their natural resources and specialist industries, generating wealth.
Countries can also gain products and services that they would be unable to produce themselves.
Greater access to money and products improves people’s standard of living.
What are four downsides of globalisation?
Inequalities
Conflict
Injustice
Environmental Degredation
How does globalisation cause inequalities?
As companies move low-skilled jobs to less developed countries, low-skilled workers in developed countries find it more difficult to earn money - this creates a greater divide between rich and poor people between countries.
Developed countries have greater access to capital and technology, meaning they have an advantage over less developed countries.
How does globalisation cause conflict?
Developed countries have intervened in conflicts in order to secure access to natural resources like oil.
Cyber warfare is a new source of conflict.
How does globalisation cause injustice?
Improved transport and communication systems have made human trafficking easier.
Many people in less developed countries have to work in sweatshops to make products for people in developed countries.
How does globalisation cause environmental degradation?
Global trade increases transportation which releases greenhouse gases.
Access to resources from around the world causes deforestation and overfishing.
The abundance of cheap products from around the world means people are more wasteful.
