Issue 3 - Living in a Globalised World

With globalisation, ideas and activities around the world become interconnected. This has lead to an ___________ relationship between local and global developments.

What are the driving forces of globalisation?

• Developments in Transportation

• Growth of SMCs

• Developments in Technology

• Growth of MNCs

• Liberal Immigration Policies

Developments in Transportation has caused the world to 'shrink'. What does this refer to?

• Countries are closer together

• More ways of travelling to different countries

• Shortened travelling time between countries

• Inexpensive ways of travelling to different countries

What benefits do foreign owned Multi-National Corporations(MNCs) bring to a country?

• Higher employment

• Higher wages

• Sharing of skills and technology

• Environmental sustainability

• Higher work-life balance

What benefits does the Advancements in Technology bring?

• Opportunity for more collaboration

• Ease of communication

• Ability to work remotely

• Online businesses can flourish

Why is having efficient transportation networks essential in a global economy?

• Travel time can be reduced

• More people can travel for work and leisure

• To withstand inclement weather conditions

• More people and goods can be transported around the world

Globalisation can impact countries, companies and _________________.

Countries can experience economic growth through:

• FBI

• FTA

• FOMO

• FDI

What happens during an Economic Downturn in a country?

• Countries withdraw their investments in other countries

• More jobs are created for citizens

• Foreign PMETs may have to return to their home countries

• Demand for goods and services increases

How do companies benefit from globalisation and branching out to other countries?

• Lower production costs in host countries

• Safer working environment in host countries

• Higher educated work force in host countries

• Greater reach to new customers