Globalization and Impacts

Among the following which image indicate the Globalisation?

• 
• 
• 

Which are the factors that enabled the globalization ?

• WTO

• Liberalisation

• Air ways

• Harmonization

What do you mean by Globalisation ?

• Removing barriers or restrictions

  set by the government is what is

  known as Globalisation.

• It is the process of is this

  process of rapid integration or

  interconnection between countries

• The transfer of a business, industry, or service from public to private ownership and control.

• A process of settling among and establishing control over the indigenous people of an area.

Which among the following are positive impacts of Globalization?

• Increased economic growth

• Creation of new jobs

• Access to better technology

• Exploitation of workers

How can we foster a more equitable form of globalization that benefits all nations

in the world?

• Strengthening global institutions

• Increasing foreign aid and development assistance

• Increasing the exploitation the Third World countries,

• Promoting sustainable development:

The sharing of ideas, experiences and lifestyles of people and cultures. People can experience foods, entertainment previously unavailable in their countries. For example globalisation has caused Indian and Chinese food to be hugely popular in the UK and other western European countries.

• Cause

• Positive Impact

• Negative Impact

Globalisation operates mostly in the interests of the richest countries, which continue to dominate world trade at the expense of developing countries.

• Cause

• Positive Impact

• Negative Impact

Greater employment opportunities for people especially in LEDCs in the manufacturing industries. Globalisation can provide jobs for poorer and indigenous people and help them to learn new skills.

• Cause

• Positive Impact

• Negative Impact

Labour availability and skills - countries such as India have lower labour costs (about a third of that of the UK) and also high skill levels. Labour-intensive industries such as clothing can take advantage of cheaper labour costs and reduced legal restrictions in LEDCs.

• Cause

• Positive Impact

• Negative Impact

There are no guarantees that the wealth from the inward investment will benefit the local community. Often, profits are sent back to the MEDC where the TNC is based. Transnational companies, with their massive economies of scale, may drive local companies out of business. If it becomes cheaper to operate in another country, the TNC might close down the factory and make local people redundant.

• Cause

• Positive Impact

• Negative Impact