Globalisation - Advantages & Disadvantages - Chapter 16
- Created by: sammilaw
- Created on: 23-02-16 18:16
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- Globalisation
- Chapter 16
- Advantages:
- Improving efficiency
- Increased competitiveness
- Improves standard of living and spread of wealth
- Better relations between countries
- Improves spread of wealth
- Innovation and R&D
- Disadvantages:
- Deindustrialisation
- Due to comparative or absolute advantage
- Environmental damage i.e. pollution
- Exploitation
- Growth suggests that more of the environment's resources are used up
- Loss of jobs if labour is cheaper elsewhere
- Losing out to other countries and being put out of business
- i.e. China now produce roughly half of the world's supply of apples instead of Winchester, VA.
- Deindustrialisation
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