Issue 3 - Living in a Globalised World

With globalisation, ideas and activities around the world become interconnected. This has lead to an (a)   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 (a)   .

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