International Trade and Access to Markets 3

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  • Created by: Amy_Hut
  • Created on: 22-03-21 19:16
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  • Geographical consequences & impacts of Globalisation
    • Main beneficiaries of Globalisation
    • Benefits & costs of free trade
      • Benefits
        • Lower prices for consumers
          • As cheaper raw materials for TNCs
        • Access to larger, wealthy markets for TNCs
        • Greater foreign competition may weaken domestic monopolies
    • Social & cultural impacts of interdependence
      • Allowed for greater sharing of ideas, lifestyles & traditions
  • TNCs
    • Grown in industrial and service sectors
    • Becoming global powers
    • Main beneficiaries of Globalisation
  • International organisations
    • Contributed to globalisation
      • Consolidated their power & control in world affairs
      • E.g. World Bank, IMF & WTO
  • Regional trading blocs
    • More trade agreements have evolved
      • Benefit members
        • At expense of nation state
  • Greater economies of scale & competition
    • Leads to greater innovation
    • Benefits
      • Lower prices for consumers
        • As cheaper raw materials for TNCs
      • Access to larger, wealthy markets for TNCs
      • Greater foreign competition may weaken domestic monopolies
  • Over-standardisation of many goods and services
    • Led to increased cultural homogeny
      • Has damaged individual traditions = less diversity
    • Social & cultural impacts of interdependence
      • Allowed for greater sharing of ideas, lifestyles & traditions
  • Products & services are distributed globally
    • But fashioned to appeal to local consumers market
    • Glocalisation has been adopted by some TNCs
      • E.g. MacDonald's
  • More transportation
    • More greenhouse emissions
  • Weak or non-existent controls
    • Allows for pollution
    • Environmental impacts of Globalisation
      • More transportation
        • More greenhouse emissions
      • Depletion of finite resources
      • TNCs outsourcing production to countries with less strict environmental standards
      • More packaging waste
      • Geographical consequences & impacts of Globalisation
        • Benefits & costs of free trade
        • IMF-enforced spending cuts on environment

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