Fichas
Globalisaion
Fichas del conjunto (8)
- 1Define GlobalisationIncreasing integration between economies around the world
- 2Causes of Glbstn- Reduction in trade in barriers increases free trade
- Containerisation improved efficiency of transport of goods with speed + low costs
- Communication has been improved with speed + availability >> lowering costs - 3Main characteristics...- ^ trade in goods
- ^ labour migration
- ^ transfer of money through FDI between countries / investments
- ^ regional specialisation >> ^ division of labour
- ^ outsourcing => exploitation of labour
- ^ growth of global brands - 4Consequences of Glbstn (More developed countries)...- ^ outsourcing =>exploitation of labour
- ^ economies of scale through exploitation of producing at global scale
- ^ competition for monopolies
- Developed countries need to diversify as developing countries have specialised in the manufacturing sector=>> they build absolute and comparative adv
- Can recruit more => could push down wages
- Possibly brain drain workers - skilled workers could seek opportunities overseas - 5Consequences of Glbstn (Less economically developed countries)...- ^ dominance of global brands ruining their culture
- ^ exploitation of their workers
- ^ however have gained comp/absl adv
*tbc* - 6What are MNCs ?Businesses that operate in at least two countries
- 7Benefits of MNC- ^employment => ^GDP => multiplier effect
- ^high wages to attract workers
- tax revenues generated from profits, earned incomes + extra spending - 8Drawbacks of MNCs- Will pay the lowest wage to recruit sufficient numbers. If labour surplus, low rates of pay will be offered.
- they can exploit the fact the economically developed countries arent clear abt their regulations and property rights. Not Producing output in a clean way
- Tax rev. wont increase as profits are transferred globally to economies with low tax rates. this is Tax avoidance. This is unethical but not illegal.
- Workers may be treated unethically.
(no clear protection).
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- A level (Globalisation) Economics Fichas sobre Globalisaion, creado por Harini Kumarakuruparan el 20/10/2019.
- Creado por
- Harini Kumarakuruparan
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