Globalisation

Globalisation

1. Causes

   • Decrease cost in transport - Containerisation
   • Decreased cost in communication
   • Reduction in world trade barriers
   • Increased significance of TNC/MNC's

2. Benefits

   • Higher living standards
   • Lower prices and more choice
   • Technological and managerial transfer
   • Increased tax revenues

3. Drawbacks

   • Negative externalities
   • Increased inequality
   • Exploitation of labour
   • Exploitation of resources