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.
What factors have contributed to globalisation over the last 50 years?
Tech advances, Trade liberalisation, Economic liberalisation (less command economies), Infrastructure, Multinational corporations, Political stability.
How has globalisation impacted the environment?
More environmental degradation via resource extraction however there is a bigger emphasis on sustainability and environmental responsibilities for businesses.
How has globalisation impacted producers and consumers?
Producers gain access to larger consumer markets but face increased competition whilst consumers benefit for more variety and cheaper prices.
How has globalisation impacted governments?
Governments have less control over economies because of more international trade. International cooperation is also key in areas such as sustainability.
How does globalisation affect individual countries?
Globalisation stimulates economies through increasing trade however it increases the inequality between countries as financial benefits are not evenly distributed.
