Positives and Negatives of Globalisation

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  • Globalisation
    • Movement of goods and services
      • The WTO promotes free trade to remove tariffs - increases LEDCs economy
    • Loss of jobs in LEDCs
      • Many textile jobs will be lost as primary jobs are cut so people are forced into the secondary sector
    • Improvementsof communications
      • The Internet and mobile technology has increased communications between countries.
    • Recognition of companies in LEDCs
      • Despite the cheap labour in LEDCs, there are many skilled workers who help aid companies
    • Exchange of intellectual property
      • Cures and investigationscan be scared instantly. This makes people more aware of global events
    • Inward Investment
      • There is no guarantee that inward investment will actually help a local economy
    • Increased national trade
      • There is better transport which can carry cargo from all over the world
    • More TNCs
      • Construction or distribution of items are more frequently bounced around countries to reduce labour costs
    • TNCS manufacturersharm LEDCS
      • As there is cheaper       labour in LEDCs, the construction of items is mainly done in poorer countries. Therefore, they may become more polluted and people will be exploited
    • Rise of MEDCs
      • As MEDCs mainly benefit from globalisation, they will economically thrive whilst LEDCs deteriorat
    • Sweatshops and illegal factories
      • Due to an increase in TNCs, more factories are illegal to provide more products
    • Higher employment
      • WTO and IMF suggest high employment improves quality of life

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