International Trade and Access to Markets 3
- 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
- Lower prices for consumers
- Benefits
- 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
- Contributed to globalisation
- Regional trading blocs
- More trade agreements have evolved
- Benefit members
- At expense of nation state
- Benefit members
- More trade agreements have evolved
- 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
- Lower prices for consumers
- 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
- Led to increased cultural homogeny
- 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
- Benefits & costs of free trade
- IMF-enforced spending cuts on environment
- More transportation
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