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Description
Flashcards by yanlilalala, updated more than 1 year ago
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Created by yanlilalala
about 9 years ago
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| Question | Answer |
| Economic Impact | improvement in Standard of living increase competition among nations Widening income gap between the rich and poor |
| IMPROVEMENT IN STANDARD OF LIVING | 1.countries trade and open their door to foreign investments which allows the increase in revenue and income where government can use the money for various purposes such as housings, buildings and educations.This leads to a better quality in life. 2. Globalisation has led to free trade where consumers can purchase greater variety of foreign goods. This also leads to a better life quality. |
| INCREASED COMPETITION AMONG NATIONS | 1.globalisation has led to countries facing a more intense competition as governments wants to attract the TNCs to invest in their country and to sell their products. 2.Countries that are able to provide more incentives to foreign investors are more likely to attract them. This allows the country to earn more revenues as their investments increases which therefore allows growth in the country. 3.However, the developing countries that does not have good infrastructures or political stability would have a lower chance of attracting foreign investments as it is not as attractive. As their investments does not increase, they would receive lesser revenues which causes them to be trapped in a poverty cycle. |
| WIDENING INCOME GAP BETWEEN RICH AND POOR | 1. Developed countries own most of the manufacturing activities, hence are able to draw many investments, skilled workers and resources from other countries for themselves ,TNCs which would lead to rapid income growth. Thus, international trade is beneficial for them. 2. As for developing countries, it does not have very developed infrastructures, hence are unable to produce better quality goods that fetch higher prices than developed countries. 3. TNCs often located intensive and low-value added production in developing countries where lowly-paid jobs are available nut with poor working conditions. As developing countries are being used to help other countries, they would continue to be trapped in poverty cycle. |
| Social impact | Increase awareness of foreign cultures Loss of Local Culture |
| INCREASED AWARENESS OF FOREIGN CULTURE | Due to globalisation, people are more aware of the different cultures through various means be it traveling, internet or TV shows. Through this, they can gain greater exposure and learn more about other cultures. |
| LOSS Of LOCAL CULTURE | 1.Global brands such as Starbucks and Macdonalds have standardised methods of operation and appearance culture across the world. 2. The influence of POP culture are seen as negative impact to teenagers as they lose interest in local culture while western countries are seen to be forcing beliefs, cultures and languages upon the rest of the world. |
| Environmental impact | Environmental Degradation (neg) -eg: global warming Environmental Managemen (postive) |
| ENVIRONMENTAL DEGRADATION | example: Global Warming Due to globalisation, goods are able to move freely around the world through uses of planes and ships. These transportation produces large quatity of greenhouse gases which increase the average global temperature. Due to the temperature change, flooding may occur in low-lying area and melts the ice caps. As melting of ice caps increase water, it rises the sea level and this is global warming. |
| ENVIRONMENT MANAGEMENT | It increases the awareness of environment management where countries are more aware that sustainable development is the key to further growth. This highlights the importance of resourcing for alternative energy sources and to generate power using these sources. |
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