Theme 4 AO1 Flashcards
What is globalisation?
The increased interconnectedness amongst countries marked by the movement of people, goods, ideas and capital across borders.
How does globalisation affect poor people?
They barely benefit as they are only able to produce products and services for themselves and are not able to sell them globally.
How does globalisation affect the middle classes in developing countries?
They would highly benefit through the economic growth associated with globalisation.
How does globalisation affect the working middle class?
They would have a significant loss of income as they would have lost their jobs as firms seeking to expand globally would have employed cheaper labour in foreign countries.
How does globalisation affect the rich?
They would have highly profited as they are the ones owning and controlling the large global firms.
