Globalisation

- Goods and services are traded freely across international borders

- People are free to live and work in any country they choose

- Capital can flow between different countries

- Free exchange of technology and intellectual property across borders

Fewer Tariffs and Quotas

- Using tariffs and quotas to restrict the flow if imports so domestic industries are protected

- They restrict foreign business development because it's difficult to sell exports when countries impose trade restrictions

Reduced cost of transport

- The cost of flying has fallen and the number of flights and destinations has increased

- People can travel to business meetings easier

Reduced cost of communication

-  Firms can transfer complex data instantly and people can work at home

Increased significance of multinationals

- MNC's benefit from having international markets and places were costs are minimised

Individual Countries

-Countries, where multinationals are based, will benefit from globalisation

-The gains generated will contribute to an increase in the wealth of that country. Jobs are created

-All effects of economic growth

Governments

- Profits are taxed by the host nation and increases tax revenue for the government and the government can use that money to improve services or lower taxes

-GB can only advance if the gov is committed to it like not using protectionism

Producers

- Access to huge markets. -Lower costs -Acess to labour -Reduced taxation

Consumers

-Prices are cheaper

-Wider range of goods or services

Workers

-Creates new jobs

- Greater freedom of movement can allow workers to find jobs in developed countries

-But some lose out because of offshoring

The Environment

- Global economic growth means more environmental damage like the increase in greenhouse gases

-Resources are used up