Impacts of Globalisation (evaluation)

Question 1

how does globalisation benefit the economy in MEDCs

Answer 1

easier flows of capital
free trade- encourages trade between countries and makes us more interdependent
brand recognition
trade blocs- no trade tariffs

Question 2

how does globalisation benefit the economy in LICs

Answer 2

investment in LICs- increase in country’s wealth

fair trade and fair trade premium

Question 3

how does globalisation benefit society

Answer 3

easier to communicate with people globally
increase in knowledge of other countries
media coverage- draws world attention to human rights violations
improvement of infrastructure and services in LEDCs due to investment

Question 4

political benefits of globalisation

Answer 4

interdependence means there are better political relations between countries - we won’t go to war with countries we rely on for goods
protection of the commons
trade agreements

Question 5

(+) how many people use the internet

Answer 5

3 billion

Question 6

(+) how much was paid in fairtrade premium to producers 2013-14

Answer 6

106.2 million euros

Question 7

(+) how many countries are in the Antarctic treaty system

Answer 7

53

Question 8

(+) how much did shell pay in royalties and corporate tax to the Nigerian government in 2016

Answer 8

$1.4 billion

Question 9

(+) what percentage of UK exports go to EU countries and what does this show

Answer 9

50%

importance of free trade and trade blocs in maintaining the economy

Question 10

how does globalisation negatively affect society

Answer 10

relative poverty (exploitation of 3rd world countries)
terrorism (more media coverage=more terrorism as more media coverage)
exploitation of the environment (shell in Nigeria)
threatens people’s sense of place - cultures can be dissolved in favour of westernised approach

Question 11

how does globalisation negatively impact the economy in MEDCs

Answer 11

outsourcing (example of Foxconn in China)- loss of manufacturing jobs in MEDCs- multiplier effect in third world countries and de multiplier effect in MEDCs

Question 12

how does globalisation negatively impact the economy in general

Answer 12

trade deficits
corporate domination
trade blocs - some countries excluded

Question 13

how does globalisation have negative impacts politically

Answer 13

interdependence- if one economy fails the whole world suffers (eg Great Depression)
unequal distribution of power in bodies such as the UN (eg Big Four able to veto legislation)

Question 14

(-) in 2011 what percentage of American media was owned by 6 companies

Answer 14

90%

Question 15

(-) how many suicides had occurred at Foxconn by the end of 2010

Answer 15

14

Question 16

(-) in 2016 how large was the trade deficit from the UK to China

Answer 16

£25 billion

Question 17

(-) how long will the Ogoniland environment take to recover from 2 large oil spills in 2008 and 2009

Answer 17

30 years

Question 18

(-) what did humans do between 1950 and 2000 which shows our increasing consumer based economy

Answer 18

humans consumed more of the world’s natural resources than during its entire previous history