GLOBALISATION

GLOBALISATION

1. Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange.

2. Globalisation has been taking place for hundreds of years, but has speeded up enormously over the last half-century.

3. Globalisation has resulted in:

   • Increased international trade
   • A company operating in more than one country
   • Free movement of capital, goods and services

4. PROS

   • Cheaper imports
   • Faster growth in poorer regions
   • Pressure to increase skill level

5. CONS

   • Reduced job security for all workers
   • Reduced wage to less skilled workers
   • Loss of variety in consumer goods