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Globalisation- definition
`Globalisation not only includes opening of world
markets, development of advanced means of
communication, internationalisation of financial
markets, growing importance of multinational
corporations, population migrations and more
generally increased mobility of people, goods, capital
and information but also infections, diseases and
pollution.'…read more

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Factors that effect globalisation
Wealth Flows of capital and information lead to the
spread of technologies, making
Location communications cheap and almost
Flows of good and people allow reduced
Infrastructure transport costs as technological advances
mean bigger ships and planes can be
Political stability used.
Conflict Infrastructure developments mean people
and good can travel almost anywhere
Communication/technology…read more

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Globalisation case studies
Technological leapfrogging FDI
Solar energy ­ Pakistan/ Goods, capital
India Cargill in Malawi
Skips stages 3 (1,2,4,5) Steel in the UK
Ground nuts in Senegal Fair trade/beyond Fair trade
Free trade Windward Islands
Economic collapse Bananas/Kallari chocolate
W.B/IMF loans and `help'…read more

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Good or bad economic development
Good Bad
Homogenisation- loss of culture
Homogenisation- Can reduce poverty
Westernisation isn't always best
Improves political stability
Cultural imperialism
TNC's /FDI ­ spread of information
TNC/FDI exploit areas
and skills
OECD's brands e.g. Nike- exploitation- cheap
Increases trade of poorer nations- T.O. labour
T- trading relationships
Can increase inequalities
Incentives such as fair trade to help
Environmental destruction
economic development- Windward
Islands Rise in terrorism
Encourages unsustainable high mass
consumption…read more

Slide 6

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Globalisation can be good for economic development in that, when
done effectively, trading relationships allow for the reduction of poverty.
In addition, globalisation allows for incentives such as fair trade to
increase economic development and reduce poverty.
Globalisation needs to managed closely to be effective as MEDC's and
TNC'S will exploit nations if there is no regulation or consequences
On the other hand, globalisation can hinder economic development, in
areas such as the Niger delta…read more


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