Positives and Negatives of Globalisation
- Created by: hannahkrasner
- Created on: 27-05-17 12:37
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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
- Movement of goods and services
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