1_Globalisation impact

1_Globalisation impact

1. ECONOMIC

   • Positive impacts
     • Improvement in Standard of Living
       • Increased Revenue
         • Improvements in education, health, defence, housing and transportation.
           • People enjoy higher income
     • Increased competition among nations to attract foreign investment-leads to rapid industrial growth
       • developed countries look for other nations with LOW manpower cost
         • Countries compete
           • increased economic growth
   • Negative Impacts
     • Increased competition among nations to attract foreign investment-leads to rapid industrial growth
       • Developing countries with low manpower cost
         • Developing contries are stuck in a poverty cycle
           • these countries end up offering cheap labour
             • Developing nation's STL drops
     • Loss of talent/ brain drain
     • Widening income gap between the rich and poor

2. SOCIAL

   • Positive impact
     • Increased Awareness of Foreign Culture
   • Negative Impact
     • Loss of Local Culture
     • More stressful life

3. ENVIRONMENTAL

   • Positive impact
     • Increase in awareness of environmental management
   • Negative impact
     • Environmental degradation