Globalization

Laura Overhoff
Slide Set by Laura Overhoff, updated more than 1 year ago
Laura Overhoff
Created by Laura Overhoff about 6 years ago
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Slide 2

    Definition of globalization
    Globalization is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalization has increased the production of goods and services. The biggest companies are no longer national firms but multinational corporations (MNCs) with subsidiaries in many countries. Globalisation has been taking place for hundreds of years, but has speeded up enormously over the last half-century. Although globalisation is probably helping to create more wealth in developing countries, it is not helping to close the gap between the world’s poorest countries and the world’s richest. Short: Globalisation is the worldwide movement toward economic, financial, trade, and communications integration.

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    Eras of globalization
    Globalization 1.0 (1492-1800) Physical power of countries and governments Countries struggle for colonies Imperialism World "shrank" from large to medium Globalization 2.0 (1800-2000) Multinational companies, global markets Companies struggle for success/profit Industrialization, falling costs expansion; steam engine & railroad world shrank from medium to small Globalization 3.0 (2000 until now) personal computer; workflow software, fibre optic cable more opportunities to work world went from small to tiny
    Caption: : The world becomes smaller due to higher interconnection

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    Opportunities, dangers and fears
    Developing countries: hope to get work and prosperity new jobs are available and access to world market many people still suffer from malnutrition or die of diseases increasing independence on foreign support, credits and investment unfair/inhumane working conditions dependency on developed countries Industrial world/Economy: exports improve economy (international/free trade) wide range of products/food at any time growing prosperity for producers countries can help each other Industrial world/Economy: people in industrial countries lose jobs financial crisis in one country can affect others as well (global crisis)
    Politics spread of freedom, democracy & human rights reduction of wars and conflicts worldwide peaceful, borderless world of shared universal values, ecological stability Politics: massive illegal immigration danger of increasing corrupt governments increasing of power of global players (loss of control) international affairs more important than national clash between political systems

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    Culture: greater understanding & tolerance spread of traditions and culture clash of cultures regional and ethnic tensions (racism) fear that individual cultures will blend into a single global culture (loss of cultural diversity) Environment: pollution higher co2 emissions global warming
    For humankind in general: fast/better communication and exchange technological progress easier travelling, wider range of products international cooperation to solve problems (global challenges) wider gap between rich and poor diseases can easily spread all around the globe (pandemia) (example: Ebola)
    Opportunities, dangers and fears

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    In detail: Positve effects
    Inward investment by big global companys (MNCs) helps countries by providing new jobs and skills for local people. MNCs bring wealth and foreign currency to local economies when they buy local resources, products and services. The extra money created by this investment can be spent on education, health and infrastructure. The sharing of ideas, experiences and lifestyles of people and cultures. People can experience foods and other products not previously available in their countries.
    Globalisation increases awareness of ecents in faraway parts of the world. For example, the UK was quickly made aware of 2004 tsunami tidal wave and sent help rapidly in response. Globalisation may help to make people more aware of global ussues such as deforestation and global warming – and alert them to need for sustainable development.

Slide 8

    Globalisation operates mostly in the interests of the richest countries, which continue to dominate the world trade at the expense of developing countries. The role of LEDCs (less economically developed country [„third world country“] ) in the world market is mostly to provide the North and West with cheap labour and raw materials. Transnational companies (TNC), with their massive economies of scale, may ruin local companies. If it becomes cheaper to operate in another country, the TNC might close down the factory and make local people redundant.
    In detail: Negatives effects
    An absence of strictly enforced international laws means that MNCs may operate in LEDCs in a way that would not be allowed in for example a European country. They may pollute the environment, run risks with safety or impose poor working conditions and low wages on local workers. Globalisation is viewed by many as a threat to the world’s cultural diversity. It is feared it might drown out local economies, traditions and languages. An example of this is that Hollywood film is far more likely to be successful worldwide than one made in India or China. Industry may begin to thrive in LEDCs at the expense of jobs in manufacturing in the UK and other MEDCs, especially in textiles
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