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Globalisation

What is Globalisation?

Globalisation

is:

The way

countries are becoming more

interconnected with each other, both economically

and culturally

The driving

factors of globalisation are

Advances in transport and

communications technology

Specialised bulk carriers, oil tankers,

container ships

Aviation

E.g.

Boeing 747

International

tourism

International

Services

Education

Health

Etc.

Communication

technology growth

Internet

Email

Social

networking

Etc.

The growth of transnational

corporations (TNCs)

Production and distribution of goods

Dominated by large companies

TNCs

Operated in a number of

countries

Create a more integrated world economy

Expansion of world trade

Movement of goods and services between countries

Imports of goods and services that

they are unable to obtain themselves

Obtain cheaply from other countries

International investment

flow

Developments in technology

Relaxing of government controls on international

flows of finance

Pros and Cons of Globalisation

Pros

Cons

Benefits individual and global community

Environmental

issues

Global

warming

Depletion

on natural resources

Production

of harmful chemicals

Faster economic growth

Poorer

countries being

Quicker access to new technology

Loss of

local culture

Cheaper imports

Richer

countries interfering with poorer countries

Greater competition

Reduced

power of governments over the control of their economy

Economy more efficient

Creates millions of jobs

Rise in employment and health

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